Q1. Compute the amount of interest for $2,500 at 7% p.a. for 8 months. 1...
80.2K
Verified Solution
Link Copied!
Question
Finance
Q1. Compute the amount of interest for $2,500 at 7% p.a. for 8 months. 1 = Prt Q2. What principal will earn interest of $150 at 8% in 3 years? Q3. Find the annual rate of interest required for $850 to earn $64.6 in 20 months. Q9. A loan of $12,000 made at 8% compounded monthly is amortized over 6 years by making equal monthly payments. (0) What is the size of the monthly payment (PMT)? 1 (ii) What is the total amount paid to amortize the loan? = PMT x the total number of payments (n) (iii) What is the cost of financing? = Total amount paid - PV PV= PMT [1-(1+0)*] Q8. Find the principal that will amount to $6,000 in 3 years at 8% p.a. compounded quarterly. FV PV = (1 + i)" j m n = number of years x m Q7. Find the principal that will amount to $8,000 in 4 years at 6% p.a. compounded monthly. FV PV (1 + i)" j m n = number of years x m Q6. If an amount of $8,000 is deposited into a savings account at an annual interest rate of 7%, compounded semi-annually, find the value of the investment after 5 years. FV = PV(1 + i)" i m n = number of years x m
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
