What is the interest rate being charged to Mr. Ramirez who applies a loan amounting to Php 170,476 in a bank, given that the interest is Php 24,024 for 4 years which is compounded quarterly? Round off the answer to two decimal places. O 14.65% 3.31% O 14.09% O 4.14%

Q: How much did Speedy Movers borrow for a debt that accumulated to $51,238.44 in four years? The…

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Q: An amount of $43,000 is borrowed for 6 years at 6.5% interest, compounded annually. If the loan is…

A: Interest is compounded annually, therefore n=1

Q: A couple who borrow $60,000 for 15 years at 6%, compounded monthly, must make monthly payments of…

A:

Q: What nominal interest rate compounded monthly is equivalent to 4.50% compounded quarterly?

A:

Q: What lump sum do parents need to deposit in an account earning 15%, compounded monthly, so that it…

A: Given:F.V=100,000r=15%t=18years

Q: At the time of her grandson's birth, a grandmother deposits $13,000 in an account that pays 3.5%…

A: Grandmother deposits $13,000. Interest rate is, 3.5%. Number of years is 21.

Q: What daily interest rate equals a quarterly interest rate of 8%? Give your answer as a decimal…

A: In this case we have to find out the interest rate using equivalence relationship so I'm providing…

Q: What lump sum must be invested at 8%, compounded quarterly, for the investment to grow to $30,000 in…

A: we will useA =P1+rnntGiven A =$30,000r =0.08n=4      (quaterly)t =12 years

Q: The Weidmans want to save $25,000 in 2 years for a down payment on a house. If they make monthly…

A: Amount required in 2 years (Future value) =$25,000Time in months (n) = 2*12=24Interest rate is 12%…

Q: What lump sum do parents need to deposit in an account earning 8%, compounded monthly, so that it…

A: Given:

Q: At the time of her grandson's birth, a grandmother deposits $2000 in an account that pays 8.5%…

A: the principal value = $2000 time period is 21 years which when converted into months is…

Q: What lump sum do parents need to deposit in an account earning 9%, compounded monthly, so that it…

A:

Q: What quarterly interest rate equals an annual interest rate of 2 %? Give your answer as a decimal…

A: Given that: Annual interest rate, i=2%

Q: What monthly interest rate equals a quarterly interest rate of 4%? Give your answer as a decimal…

A: First we have to know that number of times intrest applied per year in monthly and quarterly intrest…

Q: What lump sum do parents need to deposit in an account earning 8%, compounded monthly, so that it…

A:

Q: What lump sum do parents need to deposit in an account earning 7%, compounded monthly, so that it…

A: We know, A=P1+rnntA=final amountP=initial principal balancer =interest raten=number of times…

Q: If compounded monthly, a loan will be amounting to P132, 400.00 if invested at 11.5% interest for…

A: The solution to the given question is explained below.

Q: What lump sum do parents need to deposit in an account earning 11%, compounded monthly, so that it…

A: This is a question of compound interest. Amount, A =$80000 Rate, R= 11% number of years, n= 13 let…

Q: If Ms. Nabilog invests Php 1,000 in a savings account that offers an interest of 9% compounded…

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Q: 3. Ryza borrows Php150,000. At what rate compounded bi-monthly will her interest be if she agrees to…

A: Given that Ryza borrows Php 150,000. She agrees to pay Php 10,000 more at the end of 2 years. And…

Q: If your credit card calculates interest based on 17.45% APR, compounded monthly: (a) What are your…

A:

Q: How much should be deposited in an account paying 6% interest compounded monthly in order to have a…

A: For compound interest, we use this formula: A=P1+rnnt A is the final amount of money P is the…

Q: A couple who borrow $100,000 for 20 years at 6%, compounded monthly, must make monthly payments of…

A: The unpaid balance after the kth payment is defined as An-k=M1-(1+r)-(n-k)r where r is the rate of…

Q: If $13,376.39 was the interest earned on lending $87,000.00 for 4 years, what was the quarterly…

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Q: At what interest rate must $5600 be compounded annually to equal $13,057.18 after 11 yr? Round to…

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Q: What is the interest rate compounded quarterly if 2,500,000 pesos is invested and the amount became…

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Q: A company plans to purchase a large piece of machinery with $5385 semi-annual payments for 41…

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Q: If the interest rate on a $5,000 loan is 10%, what is the total amount due (principal and compound…

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Q: What amount must be deposited by a 20-year old student in a bank that pays 5% compounded annually so…

A: As A = P(1+r)t where A = final amount  P = Principal Amount  r = interest rate t = time

Q: A person borrowed 500,000 pesos at an interest rate of 18% compounded monthly. Monthly payments of…

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Q: How much should be paid monthly into an account paying 6% interest compounded monthly so that the…

A:

Q: What is the correct answer in questions 1 and 2? 1. Calculate the principal sum which, if deposited…

A: Let us considre P be the principal amount, r be the rate of interest and t be the time period . Let…

Q: A couple who borrow $90,000 for 20 years at 8.4%, compounded monthly, must make monthly payments of…

A:

Q: What lump sum must be invested at 10%, compounded monthly, for the investment to grow to $65,000 in…

A: We have to find a lump sum that must be invested at 10%, compounded monthly, for the investment to…

Q: How much did Speedy Movers borrow for a debt that accumulated to $56,036.80 in five years? The…

A: We need to find the amount that Speedy Movers borrow for a debt that accumulated to $ 56036.80 in…

Q: Find the present value of 1,200 due in 3 years and 9 months if money is for 10%, compounded…

A:

Q: If you need $50,000 five years from now, what is the minimum amount of money you need to deposit…

A: Let I have to deposit $P  Final amount=A=50000 Time=t=5 years Interest rate=3%=0.03   a) Number of…

Q: How much money must you invest today at 8% compounded quarterly so that your investment will be…

A: Future Value:  F.V. = $ 500,000 Interest Rate:  8% Time Period: 30 years

Q: How much should be deposited in an account every 6 months in order to have Php 3.75 million in 5…

A: i)

Q: What principal will amount to $7000 if invested at 4% compounded quarterly for 19 years? The…

A:

Q: the

A:

Q: At what interest rate compounded quarterly is Php 50,000 deposited if it balloons to Php 85,000 in 5…

A: The formula for compound interest is A=P1+Rnnt, where A=Final amount P=Principal amount R=Interest…

Q: What interest rate, compounded quarterly, is equivalent to a 9.31% effective interest rate?

A:

Q: What daily interest rate equals a quarterly interest rate of 17%? Give your answer as a decimal…

A:

Q: What quarterly interest rate equals an annual interest rate of 15 %? Give your answer as a decimal…

A: Given problem is :   What quarterly interest rate equals an annual interest rate of 15 %? Give…

Q: How much money should I save in an account paying 5% interest compounded monthly if I want to have…

A: This question can be solve by using formula F=P1+rt Here' F=Future amount P=present amount r=rate of…

Q: What lump sum do parents need to deposit in an account earning 7%, compounded monthly, so that it…

A:

Q: What lump sum do parents need to deposit in an account earning 8%, compounded monthly, so that it…

A:

Q: A couple who borrow $60,000 for 20 years at 8.4%, compounded monthly, must make monthly payments of…

A:

Q: How much did Speedy Movers borrow for a debt that accumulated to $58,040.76 in five years? The…

A: To find out the borrowed amount.