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Money is worth 8% compounded annually. For a uniform series of payments, what would be its compound amount factor for a period of 6 years?
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- If money is worth 8% compounded quarterly, find the present value of 12 quarterly payments of P1, 000 each. The first of which is due at the end of one year.Two payments of $12,000 and & 3,400 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these paymemts, made in 9 months and in 4 years if money is worth 7% compounded quarterly.For a sum of 1,050 to triple itself in 8 years and 6 months, what must be the rate of interest compounded semi-annually? (Finding the rate by linear interpolation)
- If $6000 is invested in an account. After three years, the account has $7500 in it. If money is compounded monthly, what is the nominal rate?how much more interest will be earned if $4500 is invested for 7 years at an annual rate of 11% compounded continuously, instead of at 11% compounded quarterly?If $12,000 per quarter is invested in an account that earns a nominal annual interest rate of 12% compounded monthly, how much money will be in the account at the end of 6 years? The account will have $ ?
- At what nominal rate, compounded monthly, would 12,000.00 have to be invested to amount to 21,811.13 in 6 yearswhat size payments should occur when 8000 is borrowed at 8% per year compounded quarterly and the loan is repaid with 24 equal monthly payments?Two payments of $11,000 and $4,300 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 9 months and in 4 years if money is worth 10.5% compounded quarterly.