Solve the following problems on compound interest. 2. Jenny is planning to deposit P17,000.00 Quezon Metropolitan Bank is offering 7.5% compounded semi-annually for 5 years while Quezon Premier Bank is offering 7% compounded monthly for 5 years. Which bank should she deposit her money?

Q: Five years ago, Diane secured a bank loan of $300,000 to help finance the purchase of a loft in the…

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Q: Jenny is planning to deposit P17,000.00 Quezon Metropolitan Bank is offering 7.5% compounded…

A: The amount of deposit = P 17,000 Rate of interest = 7.5% compounded semi-annually  Time period = 5…

Q: an insurance settlement of 750,000 must replace an injured workers income for the next 40 years.…

A: Given that, The insurance settlement amount, P=750,000. The rate of interest, r=6.2%. The time…

Q: Regina wants to have$280,000 in 20 years to buy a vacation home. To reach this amount, how much…

A: Consider the given information. The total amount after 20 years is $280,000. The total number of…

Q: Mr. Chua had a P50,000 business loan that is to be paid for 1 year. If the interest rate is 10%…

A: Solution :-

Q: /2. Jimmy invests $4,000 in an account that pays 2% annual interest, compounded semi-annually. What…

A: 2. The principal amount, P = $4000 Rate of interest, r=2%=0.02 The number of times the interest…

Q: In order to establish a sinking fund of $125,000, how much will have to be invested at the end of…

A: Solution...

Q: A debt of $7000 is to be amortized with 10 equal semiannual payments. If the interest rate is 5%,…

A:

Q: How much should Rebecca have in a savings account that is earning 3.50% compounded semi-annually, if…

A:

Q: A debt of $7000 is to be amortized with 8 equal semiannual payments. If the interest rate is 10%,…

A: The amortization formula is given by R=P i1-(1+i)-n where R is the periodic payment for the borrowed…

Q: Millet wants to provide a 200,000 graduation gift for her daughter Mae who is now 16 years old. She…

A: Given: A=200,000R=10%T=4 years We have to find principal (P) we know that A=P1+rnnt ...(i) here…

Q: An employee contributes $350 each month to her 401(k). What will be the value of her 401(k) after…

A: From given, P = $350, i=12%12=1%=0.01,n=360. The amount after n deposits can be calculated by the…

Q: A debt of $6000 is to be amortized with 8 equal semiannual payments. If the interest rate is 12%,…

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Q: Jasica Parker would like to have $95,000 to buy a new car in 6 years. To accumulate $95,000 in 6…

A: Given data: Amount Jessica would like to have=$95,000 Number of years =6 Annual rate of interest of…

Q: Jasica Parker would like to have $33,000 to buy a new car in 8 years. To accumulate $33,000 in 8…

A:

Q: 2. Ms. Z puts P242, 400 in a savings account that pays a set yearly interest rate of 5% compounded…

A: Let's find account balance after six years.

Q: OHigginsBooks.com can afford to pay only $3,100 per month to service its debt. What, to the nearest…

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Q: 1. Ken is paying 2,500 every 3 months for the amount he borrowed at an interest rate of 8%…

A: Let us find the loan amount for the following EMI program in the next steps.

Q: A debt of $9000 is to be amortized with 10 equal semiannual payments. If the interest rate is 5%,…

A: Note that, here P = $9000, r = 0.05, and t = 5 years (since 10 equal semiannual payments).…

Q: What initial investment is required by Jake to produce a maturing amount of $15,000 in 60 months'…

A: The formula for the compound interest is: A = P1+rnnt Here, P is the principal amount, r is the rate…

Q: 1) Brenda invests $4,848 in a savings account with a fixed annual interest rate of 5% compounded 2…

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Q: A debt of $9000 is to be amortized with 6 equal semiannual payments. If the interest rate is 7%,…

A: A debt of $9000 is to be amortized with 6 equal semiannual payments. If the interest rate is 7%,…

Q: You are considering taking out a loan of $7,000.00 that will be paid back over 12 years with…

A: To find the unpaid balance

Q: If Amy needs $15,000 in years 6 for a down payment on a home how much should be invested today at…

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Q: Allison is 28 years old and plans to retire at age 65 with ​$530,000 in her retirement account.…

A: Let the principal amount be P He retires at an age of 65, that is, in 37 years from the date of…

Q: When must an obligation of P3,483 be made  to extinguish a loan of P3,000 which bears interest at 4%…

A: Let x be the number of days after which an obligation of P3,483 is to be made to extinguish a loan…

Q: Allison is 34 years old and plans to retire at age 65 with ​$1,380,000 in her retirement account.…

A: Given: Final amount is $1,380,000 Interest is 4% that is compounding daily Time is 31 years (from…

Q: In order to have P1 million in a fund at the end of 15 years. how much must be deposited in the fund…

A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

Q: If the present value of my investment is $1,000 and the rate of interest is 10% compounded annually,…

A: From the given information, present value of my investment is $1,000 that is P = 1000, the rate of…

Q: A debt of $8000 is to be amortized with 10 equal semiannual payments. If the interest rate is 9%,…

A: Given the debt amount $8,000. Number of payments is 10 equal payments (Semiannually). Rate of…

Q: With a present value of $135,000, what is the size of the withdrawals that can be made at the end of…

A:

Q: If John invests $2300 in a savings account witha 6% interest rate compounded annually, how long will…

A: To find the no of years

Q: A debt of $5000 is to be amortized with 6 equal semiannual payments. If the interest rate is 9%,…

A:

Q: You know that you will need $100,000 for your child’s education in 18 years. If your account earns…

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Q: 2.) Laura wants to accumulate $150,000 in her bank account by depositing $1000 at the beginning of…

A: Amount=$150,000 Present value=$1000 Rate of interest =5% compounded quarterly.…

Q: How much should Chad have in a savings account that is earning 2.75% compounded monthly, if she…

A: According to the problem, we have

Q: A 3-year term insurance policy has an annual premium of $300, and at the end of 3 years, all…

A: Here we will use the formula  P0 = C*[1 -(1 +r)-n ]/rWhereP0 = Lump sum depositC= Annual deposit…

Q: Suppose you want to borrow $20,000 for a new car. You can borrow at 6% per year, compounded every…

A: P = monthly payment PV = loan amount r = rate of interest n = number of periods

Q: Solve the following problems a) Find the monthly payment required to amortize a loan of $100,000…

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Q: Sarah deposited $15,000 in an investment fund that was growing at a rate of 3.00% compounded…

A: Please refer to the image below

Q: How much should a $10,000 facevalue, zero-coupon bond, maturing in 10 years, be sold for now if its…

A: Face value =$10000number of years, n=10rate of interest, r=8%=8100=0.08

Q: How much should Shane have in a savings account that is earning 2.50% compounded monthly, if she…

A: Given information Regular withdraw d=$1,900 Interest rate r=2.50% ⇒r=2.50100=0.025 Number of…

Q: It is desired to make an initial lump sum investment that will provide for a withdrawal of P 5000 at…

A:

Q: Five years ago, Diane secured a bank loan of $300,000 to help finance the purchase of a loft in the…

A: We will use the formula,  A=R1-(1+i)-ni where A =300,000, i=12%12=1%=0.01   n= 30*12=360 so,…

Q: 4. Amal wants to have $40000 available for a down payment on a house in 10 years. How much should…

A: Since you have asked multiple questions in a single request so we will be answering only first…

Q: A debt of $9000 is to be amortized with 8 equal semi-annual payments. If the interest rate is 8%,…

A:

Q: Jasica Parker would like to have $26,000 to buy a new car in 7 years. To accumulate $26,000 in 7…

A:

Q: A debt of $6000 is to be amortized with 6 equal semiannual payments. If the interest rate is 9%,…

A: We know that-

Q: 4. Mrs. Román wants to invest in a loan of $ 25,000 at 3.9% annual interest for four years,…

A: Mrs. Román wants to invest in a loan of $ 25,000 at 3.9% annual interest for four years, compounded…