You deposited P1,000 in a savings account that pays 8% interest, compounded quarterly, planning to use it to finish your last year in college. Eighteen months later, you decide to go to Quezon City to become a call center agent rather than continue in school, so you close out your account. How much money will you receive? *

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A: Given: Interest rate = 8.75%

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A: Amount deposited = $500 Simple Interest = 4%

Q: A young man saved his money every quarter for 5 years into his bank account. He deposits P2,000 per…

A: Here,

Q: You deposited P1,000 in a savings account that pays 8% interest, compounded quarterly, planning to…

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A: Subsidized Loans seem to be loaned for undergraduates who have a financial necessity, as assessed by…

Q: You deposited $1,000 in a savings account that pays 8 percent interest, compounded quarterly,…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

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Q: Who has a bigger balance at the end of 7 years?

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A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

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A: Present Value of Annuity:  It is the present worth of the future annuity payments made at the end…

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Q: Ms. Tanner has just graduated from the University of Edmonton. She owed approximately $67,000 in…

A: Using excel PMT function

Q: At the end of 3 years, what is the balance?

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Q: When Amy had 3 years left in college, she took out a student loan for $13,564. The loan has an…

A: For Subsidized Loan Loan Amount = $13,564 Time Period left in graduation = 3 Years Interest Rate =…

Q: 1. Prior to starting college, Rita Rivera's parents deposited $15,000 in a 5-year certificate of…

A: Deposited amount = $ 15,000 Period = 5 years Interest rate = 4%

Credit card

A credit card is provided by financial institutions or banks, which permits a person to borrow money on a preapproved limit for purchases on a credit basis. The credit limit is decided by the institution and bank which issues a credit card depending on the person’s credit score and income. A cardholder can use the card for credit purchases, a balance transfer, cash advances.