One building was priced at $ 125,000 . If you advance $ 25,000 and every month after that If $ 1,000 is paid, how many months will the payment for the building take? Monthly compound interest take the rate as 9%.

Q: You wish to save $30,000 by making $1000 deposits at the end of each month. If the bank pays 4%…

A: Dear student, we need to use NPER and FV formulas in excel to solved this problem.

Q: Your friend plans to invest $1,000 per month into an account expected to have an effective annual…

A: Here, EAR is 6.2% Monthly payment (PMT) is $1,000 Required Amount (FV) is $100,000

Q: A building is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every…

A: The number of months required to pay the amount can be calculated with the help of NPER function of…

Q: The annual income from an apartment house is $33,600. The annual expense is estimated to be $8000.…

A: Return on investment = 6% = 0.06 Initial investment = $349,000 Annual net income = Annual income -…

Q: a print is bought for 60 monthly payments of $80. What is the equivalent cash price if the rate is…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: If money is worth 8% annually, what annual payment is required to raise ₱ 18,811 after 2 years if…

A: Future Value of Annuity Due = (1 + r) x P x [{(1 + r)^n} - 1] / r

Q: You borrow $30,000 for 10 years to pay tuition and fees. The annual interest rate is 12 percent.…

A: Loan amount (PV) = $30000 Interest rate = 12% Monthly interest rate (r) = 12%/12 = 1% Period = 10…

Q: A house costs $141,000. It is to be paid off in exactly ten​ years, with monthly payments of…

A: An amount of annual percentage which is charged from borrowers of the loan and paid to the…

Q: A house and lot costing ₱2 million was bought at a down payment of ₱500,000 and ₱1 million after one…

A: Compounding Interest refers to the calculation of interest on the principal amount plus the…

Q: A house costs $144,000. It is to be paid off in exactly ten years, with monthly payments of…

A: The Annual Percentage Rate(APR) of the loan can be calculated using the RATE function in Excel.

Q: house costs $350,000. You pay a 15% down payment and mortise the rest with equal monthly payments…

A: Given: Cost of house = $350,000 Down payment = 15% Years = 20 years Interest rate = 8.4%

Q: Please use excel if possible. A stamping machine is priced at $48,000. If a payment of $1,500 is…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: You plan to deposit $100 at the end of every quarter (3 months) for 8 years starting at the end 8f…

A: Compound interest is the nothing but an interest on a deposit computed on principal amount and the…

Q: If money is worth 6% annually, what annual payment is required to raise P 17,909 after 5 years if…

A: The Future Value of an annuity due is the total future value of each cash flows which is made at the…

Q: A bank is offering 10% compounded quarterly. If you put $200 in an account, how much will you have…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: You borrow $1,000,000 at 3% compounded semi-annually and will pay it off over bi-weekly (every two…

A: Amount borrowed= $1,000,000 Rate= 3% compounded semi-annually Time (n)= Bi weekly over 25 years

Q: A year-end bonus of $23,000 will generate how much money at the beginning of each month for the next…

A: Given data; year end bonus = $23,000 interest rate = 6.33% compounded monthly number of payments =…

Q: A company wants to have $40,000 at the beginning of each 6-month period for the next 4.5 years. If…

A: The given problem is on Annuity due Annuity due is an annuity whose  payment is due immediately at…

Q: If the duration is 4 month and the interest rate is 1 percent per month. The retainage is for the…

A: Time value tells that money received today has more value than that of receiving the exact value…

Q: You borrow $1,000,000 at 3% compounded semi-annually and will pay it off over bi- weekly (every two…

A: There are two methods to charge interest on the loan taken. One is the simple interest method and…

Q: If $6000 is invested in an account. After three years, the account has $7500 in it. If money is…

A: Question is based on the concept of Time value

Q: A ten-bagger concrete mixer can be purchased with a down payment of P18,000 and equal installments…

A: Value of loan is nothing but the present value of annuity, where the cashflows are the payments of…

Q: An engineering firm can pay for its liability insurance on an annual or monthly basis. If paid…

A: Effective interest rate=1+rnn-1

Q: How much must be deposited at the beginning of each year in an account that pays 7%, compounded…

A: Here, The future value is FV i.e $28,000 The rate of interest is r i.e. 7% The maturity is n i.e 10…

Q: A building is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every…

A: The number of Monthly Payments required can be calculated with the help of NPER function of Excel.…

Q: A ten-bagger concrete mixer can be purchased with a down payment of P18,000 and equal installments…

A: The equivalent cash price of mixer is the sum of down payment and present value of annuity.

Q: How much must be deposited

A: An Annuity is a series of payments of fixed amounts and at fixed intervals. These can be of two…

Q: How long will it take an RESP to grow to $200,000, if the plan owner contributes $250 at the end of…

A: The payment flow which continues for a definite time period and terminates after lapse of time…

Q: A building is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every…

A: The number of months required to pay off the amount can be calculated with the help of NPER function…

Q: A building is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every…

A: The number of months required to pay for the building can be calculated with the help of NPER…

Q: An investment of P50,000 is made at the beginning of each month for 5 years. How much will the…

A: The investment value can be calculated as future value of annuity due

Q: How long will it take an RESP to grow to $200,000, if the plan owner contributes $250 at the end of…

A:

Q: A $500,000 whole life policy is available for $5150 per year, payable at the beginning of the year.…

A: Life policy per year $ 5,150 Insurance amount ($5,150 x 10%) $ 515 Savings plan ($5,150 x 90%) $…

Q: Annual maintenance costs for a machine are ₱25,000 for six years. Interest rate is 6%. If…

A: Present value (PV), if the stated rates of return are provided, is the current value of a future…

Q: You plan to deposit $100 at the end of every quarter (3 months) for 8 years starting at the end of…

A: Quarterly deposit (Q) = $100 Number of deposits (n) = 8 years = 32 quarters r = 8% per annum = 2%…

Q: a piece of machinery can be bought for Php 10,000 cash or for Php 2,000 down and 20,000 at the end…

A: Present cost = Php 10,000 Down payment = Php 2000 Repayment after 15 years = Php. 20000

Q: A year-end bonus of $26,000 will generate how much money at the beginning of each month for the next…

A: Bonus amount (PV) = $26000 Interest rate = 6.36% Monthly interest rate (r) = 6.36%/12 = 0.53% Number…

Q: You decide to buy a car for $16,000.00 and decide to make payments of $700 each month. If the loan…

A: The present value of the annuity is the current worth of a cash flow series at a certain rate of…

Q: A scheduled payment of $5,500 due in one year is to be replaced with two payments: the first due in…

A: Time value of money shows that the money available today is worth than the money in the future.

Q: If $650 000 is saved for retirement, what rate of interest, compounded monthly, will provide…

A: Time value of money (TVM) refers to the method or technique which is used to measure the amount of…

Q: A $2,000 furniture can be financed by paying $50 per month for 4 years. What is the annual nominal…

A: Nominal Interest Rate:It is the rate of interest which calculates before taking inflation. It…

Q: A company rent a building for P50,000 per month for a period of 10 years. Find the accumulative…

A: ​FV of Ordinary Annuity​=C×[(1+i)n−1/i​] where: C=cash flow per period i=interest rate n=number of…

Q: A house costs $148,000. It is to be paid off in exactly ten years, with monthly payments of…

A: Following details are given in the question: Cost of House (Present Value) = $148000 Monthly payment…

Q: A scheduled payment of $3,500 due in one year is to be replaced with two payments: the first due in…

A: Scheduled payment in 1 year (12 months) (X) = $3500 Replacement payment 1 = R1 in 9 months…

Q: A. A person wants to generate fourintallments of $1,000 in the following four years. How much money…

A: Discounting the future cashflows provides the present value.

Q: You have $23,067.36 in a brokerage account, and you plan to deposit an additional $6,000 at the end…

A: The computations as follows: Hence, it will take 14 years to reach your goal.