8 interest compounded quarterly
[DOC File]SIMPLE INTEREST AND DISCOUNT - OpenStax CNX
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16) A lottery pays $10,000 per month for the next 20 years. If the interest rate is 7.8%, find both its present and future values. 17) A corporation estimates it will need $300,000 in 8 years to replace its existing machinery. How much should it deposit each quarter in a sinking fund earning 8.4% compounded quarterly to meet this obligation?
[DOCX File]College of Arts and Sciences
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Find the interest rate that is needed for money to grow to $1200 in 14 years if the interest is compounded quarterly. 40. Rosie Hernandez puts $10,500 into an account to save money to buy a car in 12 years. She expects the car of her dreams to cost $30,000 by then. Find the interest rate that is necessary if the interest is compounded using the ...
[DOC File]Simple Interest - University Of Maryland
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Calculate the monthly payment and the total interest paid to the bank on a home mortgage of $110,000 if the interest rate is 7.8% (compounded monthly) and the loan is taken out for (a) 10 years (b) 20 years (c) 25 years (d) 30 years.
[DOC File]Compound Interest & the Rule of 72 Worksheet
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8. If you invested $50 every quarter at 8% interest, compounded quarterly, then how much would your investment be worth after 45 years? 9. If you invested $2000 every year at 11% interest, compounded yearly, then how much would your investment be worth after 35 years? 10.
[DOC File]Lecture Notes on Time Value of Money - Sacramento State
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The interest rate s 8.0%, compounded monthly. The next payment is due immediately. What is the balance of the loan? [Hint: This is an annuity due.] a. $63,203. b. $77,205. c. $62,784 . d. $82,502 . e. $85,107 . 14. Your mortgage payment is $600 per month. There are exactly 180 payments remaining on the mortgage. The interest rate s 8.0% ...
[DOC File]UPX Material - University of Phoenix
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How much would you have at the end of four years if interest is compounded quarterly? Now change the interest rate to a lower rate. How much will you have at the end of four years if interest is compounded annually at a rate of 2.5%? How much would you have at the end of four years if interest is compounded quarterly? Time Value of Money. FP ...
[DOC File]Homework- Interest Bearing Accounts
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8) To get $600.00 after 2 years at 4% compounded quarterly. 9) To get $80.00 after years at 9% compounded continuously. 10) To get $400.00 after 1 years at 10% compounded continuously. 11) Find the effective rate of interest for % compounded quarterly. 12) What rate of interest compounded annually is required to double an investment in 3 . years?
[DOC File]You have the choice of two equally risk annuities, each ...
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Sep 30, 2010 · Assume all CDs are of equal risk. A) A bank CD that pays 8 percent interest compounded quarterly . B)A bank CD that pays 8 percent compounded monthly. C) A bank CD that pays 8.25 % annually D) A bank CD that pays 8 % compounded semiannually. 3. A corporate coup bond has a coupon rate of 9%, a face value of $1,000, and matures in 15 years.
[DOC File]Simple Interest
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You deposit $3500 every 3 months for 7 years. Interest is earned at a rate of 8% per year, compounded quarterly. What is the amount of the annuity, and how much interest is earned? Answer: $129679.24, interest earned was $31 679.24. You are going to college this year, and you need to take out $3500 every 3 months. Your college fund is in an ...
[DOC File]Chapter 1, Section 4
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Calculate the present value of $1000 payable in 10 years using a discount rate of 5% convertible quarterly. A deposit is made on January 1, 2004. Calculate the monthly effective interest rate for the month of December 2004, if: The investment earns an 4% compounded monthly; The investment earns an annual effective rate of interest of 4%;
[DOC File]Annual Compounding - Finance Department
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Calculate the present value of $5,000 received 12 years from today. Assume a stated annual interest rate of 10 percent, compounded quarterly. Bank America offers a stated annual interest rate of 4.1 percent, compounded quarterly, while Bank USA offers a stated annual interest rate of 4.05 percent, compounded monthly.
[DOC File]Compound Interest Assignment
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$1800 at 8.4% per year, compounded semi-annually, for years. c) $2150 at 1.2% per year, compounded monthly, for 19 months. d) $10 800 at 8.4% per year, compounded quarterly, for 14 years. Renata invested $15 000 at 6% per year, compounded monthly, for years. Calculate the amount of interest she earned on her investment.
[DOC File]Section 2: Financial Mathematics
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An amount of R2 000 is deposited in a bank paying an annual interest rate of 8,6%, compounded quarterly. Find the balance after 3 years. Solution. Here the period is a quarter year (3 months), and the number of quarters in 3 years is . Since the interest rate is compounded quarterly, the interest rate . per quarter is = 2,15% = 0,0215.
[DOC File]1 - Lower Moreland Township School District
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Suppose Karen has $1000 that she invests in an account that pays 3.5% interest compounded quarterly. How much money does Karen have at the end of 5 years? At age 27, Jill deposited $4,000 into an IRA, where it earns 9 7/8% interest compounded monthly.
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