What is the present value of 1700 dollars to be paid in 5 years, if the effective rate of interest is 6.2 percent? Thank you!

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: What is the overall rate of return on a $190,000 investment that returns 17% on the first $60,000…

A: Given $190000 Investment that return 17% on the first $60000 and 14% on the remaining money?

Q: Determine the value of an account after 10 years if a principal amount of 11000 was deposited with…

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Q: b) Suppose that the amount in an account 3 years after being invested at 7% is $6050. What was the…

A: A=P1+rtr=rate p= principal amountA = amoiunt

Q: Mrs. Aquino retires at the age of 63 and uses her life savings of 120,000 to purchase an annuity.…

A: Consider the provided question, Given, PV (present value) = 120,000 Interest rate (i) = 6% = 0.06…

Q: Find the effective rate of the interest that is equivalent to an 9% rate compounded monthly.

A: Effective rate of interest :   The Effective Annual Interest Rate (EAR) is the interest rate that is…

Q: What is the annual percentage yield for an account with a nominal interest rate of 12%, compounded…

A: The formula for annual percentage yield is, APY = (1 + i/n)n – 1, where I is the nominal interest…

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

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Q: Suppose you see a car with a price of $12,000 that is advertised at $300 per month for 5 years. What…

A: Given: Price of the car=$12000, Payment=$300 per month, time=5 years.

Q: If the simple interest on $3,000 for 7 years is $1,050, then what is the interest rate? The rate is…

A: We need to solve it by the basic formula of simple interest.First we need to specify the given…

Q: An investment will pay 5000 dollars at the beginning of 2001, and 3800 dollars at the beginning of…

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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: You want to have $500,000 when you retire in 30 years. If you can earn 4% interest compounded…

A: We have to set up the compound formula first.

Q: If a nine-month term deposit at a bank earns a simple interest rate of 9% per annum, how much should…

A: Given: The value of r is 9%

Q: What is the simple interest rate on a $1350 investment paying $319.82 interest in 10.3 years?  %…

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Q: Suppose you borrow P15,000 and required to pay P15,315 in 4 months to pay off the loan and interest.…

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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: Suppose you buy a home and finance $285,000 at $2,293.17 per month for 30 years. What is the amount…

A: Given that you buy a home and finance $ 285,000 at $ 2293.17 per month for 30 years. We have to find…

Q: Suppose you have budgeted $ 1025 a month towards a mortgage. If you are offered a 30 year mortgage…

A: Let x be the mortgage amount that offered.

Q: Suppose you want to accumulate $100,000 for a down payment on a house in 6 years. You make a single…

A: Solution is given below:

Q: What is the simple interest rate on a $2100 investment paying $771.75 interest in 10.5 years?…

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Q: How much interest will be charged on ₱ 7,300 borrowed for (3) years at a simple interest rate of 12%…

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Q: You want to be able to withdraw $35,000 from your account each year for 15 years after you retire.…

A: We have to find how much will we need to deposit each year until retirement to achieve our…

Q: What would be the selling price of a 10-year bond with a face value of P100,000, interest at 20%…

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Q: How much interest will be charged on ₱7,300 borrowed for three (3) years at a simple interest rate…

A: To find Interest charged charged on 7,300 borrowed for three (3) years at a simple interest rate of…

Q: Suppose you see a car with a car with an advertised price of $14,500 at $410.83 per month for 4…

A: Given, Advertised price $14,500 at $410.83 per month for 4 years.

Q: What simple interest rate will convert a $200 investment into $220 in one year?

A: we know the formula: simple interest (SI)=P×r×t100 where P is the principle(investment) amount, r is…

Q: What present value amounts to $7,000 if it is invested for 18 months at 4% simple interest?

A: Amount = $7000 Time = 18 months = 1.5 year Rate = 4% = 0.04 Interest = Amount × Time × Rate

Q: What nominal rate of interest convertible once every four years is equivalent to a nominal rate if…

A: What nominal rate of interest convertible once every four years is equivalent to a nominal rate if…

Q: What is the purchase price on a car that has a $264 monthly payment for 5 years, financed at 8% per…

A: The purchase of a car that has a $264 monthly payment for 5 years, financed at 8% per year,…

Q: What amount of money will accumulate to $83,000 in 1 year and 3 months at the interest rate of 2.12%…

A: Given Principal (P) =83000 Rate of interest (R) =2.12% Time (T) =1 year 3 months

Q: If 5000 dollars is invested in a bank account at an interest rate of 4 percent per year,

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Q: Suppose that Juanita borrows $500 for 6 months at the simple interest rate of 9% per annum. What is…

A: Given :- Suppose that Juanita borrows $500 for 6 months at the simple interest rate of 9% per annum.…

Q: What is the maximum amount you can borrow with a 30-year mortgage if you can pay $725 a month and…

A: Note that, here the periodic payment PMT=$725, interest rate i=4.2%=4.212×100=0.0035, and the number…

Q: What is the simple interest paid on $1600 at 3 % for 4 years? Round your answer to the nearest cent.

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Q: . If a $28,700 salary is increased 5 percent each year to keep ahead of inflation, what will this…

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Q: Jimmy deposits $4000 at a bank with an interest rate of 4.5% per year and he has no plans of…

A: From the given information, the principal investment is P=$4000, interest rate r=0.045, and n=1 and…

Q: If $1000 is borrowed and the interest after 24 months is $300, what is the annual interest rate for…

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Q: If the simple interest on $1,000 for 10 years is $600, then what is the interest rate? The rate is…

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Q: A company gets a discount loan at a 12 percent interest rate.  They borrow $100,000 for one year.…

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Q: what is the FV of the investment. Round  to nearest cent. $7,000 for 4 years at 4.75%  annual…

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Q: if you decide to invest $2500 at 5% annual interest rate every year, how much would you have in your…

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Q: The loan of $ 700 is expected to be paid in one year as a total of $ 749. What is the annual…

A: Solution

Q: The simple interest on a $7,600 loan at 7% per year amounted to $4,788. When did the loan mature?

A: To Determine: The simple interset on a $7600 loan at 7% per year amounted to $4788. When did the…

Q: You are currently making $70,000 a year after taxes and are interested in maintaining your current…

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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: Suppose a person borrowed $2000 and repaid the lender $2150 after 10 months. What simple interest…

A: Initial amount =$2000 Final amount = $2150 Intrest Paid = $150

Q: What annual rate of simple interest is necessary to give interest of $416 on a principal of $800…

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Q: What is the total investment of $3500 compounded quarterly for 8 years at a rate of 5%? And what is…

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