my cousin hershey is a newly public school teacher who plans for education of her future children. initially at the beginning of each month 10000 pesos was deposit for 8 years in the bank in orani. at the end of the month the investment collects 9% of annual interest and is compounded monthly. after the last deposit how much is in the account

Q: When you were born, your family started to deposit 1,000 USD each month in the bank. The bank offers…

A: Amount deposited each month in the bank = 1,000 USD  Annual deposited amount (PV) = 1,000 USD × 12…

Q: Roland just put RM1,000 in the fixed deposit and intend to leave it there for 10 years. If the bank…

A: Formula Future value = PV*(1+(i/c))n*c Where PV = Present value i.e. RM1,000 i = Interest rate i.e.…

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A: Quarterly deposit first 2 years = P 2000 Quarterly deposit next 3 years = P 4000 Annual interest…

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A: Time value concept Money that is received today is of more worth as compared to the money received…

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A: Future Value The value of a money at a future date based on an assumed rate of growth is known as…

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A: in this we have to find out simple interest and compounding interest and than find out interest on…

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A: In the given question Php 400 will be deposited at the end of each month for 6 months. The amount…

Q: 1. Jeremy makes six consecutive annual deposits of P2,000 each to a savings account that pays a…

A: Annual Deposit = 2000 Discount Rate = 10% Semi Annual Compounding N = Number of deposits = 6

Q: el started to deposit P5,000 quarterly in a fund that pays 1% compounded quarterly. How much will be…

A: The money grow with time and depending on the interest rate and compounding the future value grow…

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Q: A person deposits 200.00 riyals at the end of each month for a year in a bank, and it has been found…

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: Shayla deposited $4,000 into an account earning 5% interest per year, compounded every 6 months.…

A: A study that proves that the 1value of money today is higher than the future value of money is term…

Q: Anita put up a bank account with an initial deposit of 25, 000. After six months, she deposited…

A: Simple interest is applied directly on the principal amount. The formula for calculating simple…

Q: Peter has $10,000 that he can deposit in any three savings accounts for a 3- year period. Bank A…

A: Deposit = 10,000 Time Period of Deposits = 3 years   Bank A Annual Compounding Interest Rate = 4% N…

Q: Steven just deposited $10,000 in a bank account that has a 12 percent nominal interest rate, and in…

A: Given, Deposit amount = $10,000 Nominal interest rate = 12% (Compounded monthly) Additional…

Q: An account is set for Brenda that pays annually $50,000 which is adjusted for inflation every year.…

A: The Present Value of Annuity (PVAF) is the cash value of all future annuity payments discounted at a…

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A: Interest is an extra amount which is received or paid on deposited or borrowed amount for the…

Q: Morgan opened an RRSP account and deposited $2,800.00 into it. She then deposited $900.00 at the end…

A: Deposit at year-0 = $ 2800 Deposit at year-1 = $ 900 Deposit at year-2 = $ 575 Interest rate = 2.20%…

Q: Jane begins a savings program to have $4000 after 7 years. She makes a regular deposit every month…

A: The placing of cash in a financial institution such as bank is known as deposit. There are different…

Q: Marwan just deposited $13,000 into his account at Bank Muscat. The bank will pay 2.3 percent…

A: Deposit amount (P) = $ 13000 Annual interest rate (R) = 2.3% Period (N) = 15 Years

Q: value of the investment after 5 years b) How much interest was earned

A: An annuity is the fixed amount that is deposited at a fixed interval of time over a predetermined…

Q: naline wants to have 5000 dollars after 6 years in the account that draw a nominal interest of 7…

A: The future value of goes on increasing as there is more compounding over the period of time.

Q: Sarah opens an investment account with an initial deposit of $ 900. She then sets up monthly…

A: Given information: Initial deposit amount is $900 Monthly deposit of $80 Interest rate is 3%…

Q: Jane begins a savings program to have $4000 after 7 years. She makes a regular deposit every month…

A: An Annuity is simply a fixed amount which is invested monthly to get a certain amount after a…

Q: Adriana Grandioso has made beginning-of-year deposits into an investment account for the past 21…

A: FV is the future worth of cash flows that have occurred in the past or present.

Q: If Karen placed an amount of 9,700 Php in an investment that pays an interest rate of 12%,…

A: Investment = 9700 Php Interest rate = 12% Compounding = Semi annually Future value = 50,000 Php

Q: Beverly Hills started a paper route on January 1. Every three months, she deposits $800 in her bank…

A: The question is based on the concept of future value calculation . The first part  use concept of…

Q: Sam's family has decided that they will start depositing $100 at the end of every month into a…

A: Monthly Deposit = 100 End of month deposits Time Period =  3 years or 36 months Interest Rate = 4.6%…

Q: how much money will have accumulated at the end of the 10-year period

A: Future Value of Annuity: It is the future worth of a series of cashflows/payments compounded over a…

Q: An individual makes five annual deposits of Php 2,000 in a savings account that pays interest at a…

A: Given: Number of annual deposits "n"= 5 Amount of annual deposits "PMT"= 2000 Rate per year during…

Q: Barbara makes four consecutive annual deposits of $2,000 in a savings account that pays interest at…

A: The question gives the following information:

Q: When you were born, your parents started to deposit monthly $2,000 in the bank. The bank offers a…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Karen wants to have $22,559 in her investment account in 5 years. If her bank offers an annual…

A: Following details are given in the question : Future value = $22559 Time period = 5 years Interest…

Q: Juanita has $100 deducted from her paycheck at the end of each month and put into a savings account…

A: Monthly Payment (pmt) = $100Interest Rate (rate) = 11%Type of Interest Compounded = MonthlyTime…

Q: Mr. Moreno started to deposit Php. 5,500 quarterly in a fund that pays 2.5% compounded monthly. How…

A: Multiple questions asked, so we can solve only first one or question asked as per requirement under…

Q: Helena deposited P3,000 every beginning of 6 months for 10 years at Metro Bank at 9% compounded semi…

A: FV is the future worth of cash flows that have occurred in the past or present.

Q: Elizabeth Brown has $23,000 that she can deposit into a savings account for five years. Bank A…

A: Here, we need to calculate the future value of the amount deposited today at a given interest rate…

Q: Jason makes six EOY deposits of $2,000 each in a savings account paying 5% compounded annually. If…

A: The compound interest is calculated on the principal amount annually. It considers the present value…

Q: ica deposits her annual business profit into a savings account that pays 7% interest compounded…

A: Future Value refers to the value of the current asset or investment or cash flows at a specified…

Q: A student plans to deposit P 2,000 in the bank now and another P 5, 000 each year for the next two…

A: Future value of a present value is the value of that amount after taking into account the time value…

Q: On October 1, Lorelai made a single deposit of $12,000 into an investment account which earns…

A: In this question future value of the initial deposit is to be find out. Future value is the value of…

Q: Gregory's investment manager offers her an interest rate of 9.00% compounded monthly on her…

A: From the given data in the question, we have understood the future value of an ordinary annuity is…

Q: Sarah opens an investment account with an initial deposit of $ 900. She then sets up monthly…

A: Future value is the value of the current assets or some amount that is invested today and amount…

Q: Mrs. Reyes decided to save money for her grandchild. She deposit Php 300 each month into an account…

A: Annuity: It refers to the present and future value of recurring payments at a particular point of…

Q: Mr & Mrs. John have decided to start a monthly savings program in order to provide for their son's…

A: Accumulated amount (F) = RM 50,000 Annual interest rate = 6% Monthly interest rate (r) = 6%/12 =…

Q: Ayesha wants to deposit 300 per year in a bank for the next 10 years. The bank pays annual interest…

A: Future value refers to the worth of the amount which is invested today at some future specified date…

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.