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- 5. Mr. Jo needs P 4,000,000 immediately to pay for a new home. Having insufficientfund for this, he borrows P 2,000,000 from an insurance company and repay the loanevery six months for 15 years, the first payment being at the end of 8 years from now.If the insurance company charged him 8% compounded semiannually, how much isthe amount of each payment?! Use the given Data ! bartleby = 3 max questionsFor a deposit of P150000 at 8.5% interest compounded continuously over 5 years, find the interestearned. Jonal is left with an inheritance which amounts to P 30000 trusted to her guardian until it reachesto P 60000, how long would she wait for her money if it is invested at 10% compounded quarterly?N=! Pls answer !bartleby = 3 max questions 1. If the proceeds of P 2000 will be paid w/ P2400 at the end of 10 months, find the discount rate. 2. At certain interest rate compounded quarterly, an amount worth P8000 will be P20000 after 5 yrs. How much would it be at the end of 10 years? 3. For a deposit of $1023 at 7.8 % interest compounded continuously over 4 years, find the interest earned?
- You are paying$1,500each month for 12 years with an interest rate of12%compounded continuously, find the equivalent future lump sum amount at the end of 10 years? (if result=1250.5just write 1250.5 ) Answer:.Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest?Periodic Deposit: $? at the end of each yearRate: 8% compounded annuallyTime: 12 yearsFinancial Goal: $20,000Mr. Smith invested $2,500 in a savings account that earns 3% interest compounded annually. He made no additional deposits or withdrawals. Which expression can be used to determine the number of dollars in this account at the end of 4 years? 2500(1+0.03)^(4),2500(1+0.04)^(3) 2500(1+0.3)^(4),2500(1+0.4)^(3).
- Pls solve for the ordinary annuity of the following: Joe deposits $22,000 at the end of each year for 7 years, in an account paying 6 % compounded annually, how much will he have on deposit after 7 years? Ans: $184,664.43 Napoleon deposits $1,200 at the end of each quarter for 10 years, in an account paying 8 % compounded quarterly, how much will he have on deposit after 10 years? Ans: $72,482.38 Jose wants to retire in twenty years and for this purpose he is depositing $200 at the end of each month in a sinking fund that pays 7.2% compounded monthly. If he will be doing this for twenty years, then how much money will be there for him when he retires? Ans: $106,752.476. A man bought an equipment costing P60,000 payable quarterly for 3 years, each installment payable at the beginning of each period. The rate of interest is 24% compounded quarterly, What is the amount of each payment?29. If money is worth 5% compounded semi-annually, find the, present value of a sequence of 12 semi-annual payments at P 500 each, the first of which is due at the end of 4 ½ years.
- Many persons prepare for retirement by making monthly contributions to a savings program. Suppose that $2,000 is set aside each year and invested in a savings account that pays 10% interest per year, compounded continuously. Solve, a. Determine the accumulated savings in this account at the end of 30 years. In Part (a), suppose that an annuity will be with drawn from savings that have been accumulated at the EOY 30. The annuity will extend from the EOY 31 to the EOY 40. What is the value of this annuity if the interest rate and compounding frequency in Part (a) do not change?2. By the condition of a will, the sum of 25 000 pesos is left to a girl to be held in trust by her guardian until it amounts to 45,000 pesos. When will the girl receive the money if the fund is invested at 8% compounded quarterly? (Sketch the cash-flow diagram).Jack plans to expand his firm 6 years from now so he plans to makequarterly deposits of P100,000 in a bank account for 5 years. If the deposits will bemade at the start of the periods, how much money can he withdraw to start theexpansion by the end of the 6th year if the money earns an interest of 15% compoundedsemi-annually? Show full solution
