You borrowed $22,000 to buy a new car from a bank at an interest rate of 9% compounded monthly. This loan will be repaid in 60 equal monthly installments over five years. Immediately after the 24th payment, you desire to pay the remainder of the loan in a single payment. Compute this lump-sum amount.

Q: How much will be at the said account three years after the last deposit? If you make six consecutive…

A: Given Information: Annual deposit, A = $2000 Interest rate = 10%

Q: Find the equivalent present worth of the cash receipts in the accompanying diagram, where i = 8%…

A: Year Withdrawal/Annual deposits PV F @ 8% PV of withdrawal/deposits 0       1 600 0.9259 555.558…

Q: Your company borrowed $180,000, agreeing to pay the balance in 18 equal monthly installments at 8%…

A: Borrowing is defined as a liability of a firm which is used to finance the need of funds.…

Q: (Using Appendix A) How much will be in the bank account at the end of 15 years if $ 100 is invested…

A: Semi-annual interest rate (i) = 8% / 2 = 4% Number of semi-annual compounding periods (N) = 2 x 15 =…

Q: Consider the cash flow series given in the accompanying table. What value of C makes the deposit…

A: The money interest which represents the time value of money can be any given or declared rate of…

Q: ompute the number of periods in order that the capital recovery factor for a uniform payment series…

A: A/P = 0.1424564 r = 6% compounded semianually

Q: P89,650 is placed in an account at 5.92% compounded daily for 7 years. How much is in the account at…

A: Given: Principal amount=P 89650 Interest rate compounded daily=5.92% Number of years=7 To find:…

Q: A man agreed to pay the loan he is borrowing from a bank in six equal year- end payments of…

A: FV = PV(1+rn)nt where F is future value PV is present value r is interest rate  n is number of…

Q: You borrowed $5,000 to finance your educational expenses at the beginning of your junior year of…

A: The given information: Borrowed amount is $5,000 Interest rate is 8%

Q: You have borrowed $28,000 at an interest rate of 12% compounded annually. Equal payments will be…

A: According to question, given that Borrowing amount $28,000@12%/year a) AP represented annual…

Q: Find the future value after 30 years if a one-time investment of $1,000 is made at a 10% yearly…

A: Interest is the sum that the borrower pays the lender over and above the principal amount. Both the…

Q: 7. How much should be deposited in a bank at a rate of 12% compounded continuously for 5 years if…

A: As multiple questions are asked, only the first one will be answered.  Given the compound annual…

Q: Troy Long wishes to deposit a single sum of money in a savings account so that five equal annual…

A: An annuity is a series of payment/cashflows that a paid/received at equal intervals. The formula for…

Q: A building is priced at $255,000. If a buyer makes a down payment of $55,000 and a payment of $2,000…

A: here we calculate  how many months will it take for the buyer to completely pay for the building  by…

Q: Joe makes 12 monthly deposits of X each during a year at the beginning of each month, into a fund…

A: Given information Monthly deposit =X  interest rate compounded monthly =6% n=12 month Second year…

Q: P 50,000 was deposited quarterly at an interest rate of 18% compounded quarterly. About how many…

A: Given:  The amount deposited quarterly=P 50000 Interest rate compounded quarterly=18% Future sum=P…

Q: Compare the interest earned on $8,000 for 15 years at 8% simple interest with the amount of interest…

A: A fixed percent of interest rate on the principal amount over a specific time period is referred to…

Q: 6. How long in years will a certain sum of money to triple its amount when deposited at a rate of…

A: As multiple questions are asked, only the first one will be answered.  Given the compound annual…

Q: What is the equal-payment series for 10 years that is equivalent to a payment series starting with…

A: The first step is to compute the total present value of cashflows for 10 years which is decreasing…

Q: If P1,000 becomes P1,126.49 after 4 years when invested at a certain nominal rate of interest…

A: Given Present value P=1000 Fature value FV=1126.49 Time =4 year  number of compounding period =2

Q: Suppose that, to cover some of your college expenses, you are obtaining a personal loan form your…

A: Given  Total amount of money paid after three year =20223 Interest rate =10% compound monthly.

Q: What is the nominal rate of interest compounded continuously for 10 years if the compound amount…

A: Nominal interest is the interest before adjusting inflation.

Q: ind the equivalent effective interest rate of 6.05% when compounded continuously.   Write your…

A: Given  nominal interest rate i=6.05% compounded continuously. We have to calculate the equivalent…

Q: A large bank has increased its annual percentage rate (APR) on credit cards to 30%. This move was…

A: Meaning of Annual Percentage Rate (APR): The term annual percentage rate refers to that rate that…

Q: What is the difference between the sums of an annuity due and an ordinary annuity for the following…

A: In economics, present value refers to the current value of a future flow of cash flow. Future value…

Q: Determine the principal that would have to be invested to provide P200 of simple interest income at…

A: The interest rate is the amount charged by a lender to a borrower on top of the principal for the…

Q: Mr. Edwards borrowed P 200,000 and agrees to pay P X annually for 5 years at the rate of 6%…

A: Amount Borrowed = 200000 Annual Payment = x n = 5 r = 6%

Q: A construction company buys a tractor, paying $10,000 in cash and agreeing to pay $5,000 every six…

A: Dear Student, I understand you need this answer without excel but the calculation is not possible…

Q: Money borrowed today is to be paid in 11 equal payments at the beginning of each quarter. If the…

A: In the question above, it is given that : Amount = P 23469 Rate of Interest = 3% = 0.03 Time period…

Q: A man deposits P500 at the end of each year and expected to have an amount of P2,769.84 at the end…

A: (1 )Solution:  Uniform Series of compound interest  F = A(1+i)n-1  + … + A(1+i)3 + A(1+i)2 + A(1+i)…

Q: On January 1, you deposit $5,000 in a credit union that pays 8% nominal annual interest, compounded…

A: Interest rate is the amount charged on an amount of money by a lender from a borrower to use the…

Q: A loan can be settled by monthly payments of $350 in four years at 5.5% compounded monthly. If the…

A: Answers   In this question it is asking about the selling price of the contract. So future value of…

Q: Suppose that the interest rate is 10% per year, compounded annually. What is the minimum amount of…

A: Compound interest (also known as compounding interest) is the interest on a loan or deposit that is…

Q: The simple interest on a sum of money for 5 years at 4.53 % per annum is P5,584. What will be the…

A: The difference between simple interest and compound interest is that compound interest is charged on…

Q: What is the future worth of each given series of payments?(a) $8,000 at the end of each year for…

A: a. The investment is $8,000 at the end of each year and is repeated for 5 years and the rate of…

Q: Determine how much is "X" payment to be made 8 years from now, that is equivalent to a payment of…

A:

Q: A businessman borrowed P 200,000 and agrees to pay P 47,720 annually for x years at the rate of 6%…

A: The formula to compute continuously compounded interest is as follows: P(t)=P0ert where P(t) = Value…

Q: Money borrowed today is to be paid in 6 equal payments at the end of 6 quarters. If the interest is…

A: Given that: i = 0.124 = 0.03n = 6A = 200000to find: P = ? P = A1+in-11+ini

Q: A debt of P 15,000 was paid for as follows: P 4,000 at the end of 3 months, P 5,000 at the end of 12…

A: * SOLUTION :-

Q: 863,171 is placed in an account at 3.66% compounded quarterly for 7 years. How much is in the…

A: pv = P863,171

Q: What interest rate compounded monthly is needed for an amount of P20,442 to increase to P34,904 in 2…

A: Given: Principal amount=P 20442 Future value=P 34904 Number of years=2

Q: Q1) what lump sum of money must be deposited into bank account at present so that $600 per month can…

A: The Interest Rate is given as(i) 9% per monthMonthly Payment(PMT) = $600The Annuity is due for 4…

Q: Assume you make monthly deposits of $3,000 now into an account that pays 12% per year, compounded…

A: It is given that the amount is compounded monthly. Thus, the interest rate per month i.e. 12 months…

Q: - Determine the present value of an ordinary annuity of P2,700 each quarter payable for years and 9…

A: Introduction We have given an annuity value. Its time duration has also given. It is compounded…

Q: Indicate whether the given statements is true (T) or false (F): "Suppose that a lump sum of $1,000…

A: In continuous compounding, the money increases rapidly. In daily compounding, the money does not…

Q: You obtain a loan 1.5 at the rate of 18% compounded annually in order to build a house. The payment…

A: Given: Loan (P)=1.5 Rate (r)=18% compounded annually

Q: You are making $5.000 monthly deposits into a fund that pays inte rest at a rate of 6% compounded…

A: