Money deposited in a certain account for which the interest is compounded continuously. If the balance doubles in 6 years, what is the annual percentage rate?
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Money deposited in a certain account for which the interest is compounded continuously. If the balance
doubles in 6 years, what is the annual percentage rate?
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- At 8% annual interest compounded quarterly, how long will it take to become a millionaire if you invest your money worth $120,000?Mr. Bill deposited 100,000 pesos in bank account earning interest at the rate of 10% compounded quarterly, what will it become at the end of 10 years?Jane deposits $5,000 in a bank account that earns 6% interest compounded semi-annually. How much money will she have after 10 years?
- A man borrowed a sum of money and promised to pay annually for 8 years at an interest rate of 12% compounded annually. If the total interest for his debt will be ₱ 185,000 after 8 years, how much will his annual payments be?At 8% annual interest compounded monthly, how long will it take to become a millionaire if you invest your money worth $150,000?A bank is offering a loan of $10,000 with a nominal interest rate of 6% compounded monthly, payable in 72 months. There is a loan origination fee of 3% that is taken out from the loan amount. (a) What is the monthly payment? (b) What is the effective interest rate?
- You purchase a house for $250,000 directly from the buyer who owns the home outright. You pay a 20% down payment. You sign a first mortgage and the buyer agrees to finance the remaining $200,000 at 7% annual compound interest with annual end-of-year payments over 12 years. How much is a single yearly payment?How long your money would double its amount if you invested at 5%compounded annually?Rafael invested $2,000 in a business that yields an annual interest rate of 10% compounded continuously. How much would he get. approximately at the end of 5 years from his investment?
- If you deposit dollar 10000 into a fund paying 6% interest compounded monthly. how much can you withdraw at the end of each month for 1 years.If compounded monthly, a loan will be amounting to ₱132,400 if invested at 11.5%interest for 1.75 years, how much principal will be invested?An account has a nominator rate of 6.5%. Find me effective annual yield,round to the nearest hundred percent, with quarterly compounding, monthly compounding, and a daily company. How does changing the compound period affect the effective annual yield?