4. If Andy borrows R350 today at CBD Bank at 15% interest rate per annum, how much will have to be repaid to the bank after a year? What would be his repayment if interest rate was increased by 100 basis points?
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Please use simple interest
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- 9. While Jack was a student at the University of Georgia she borrowed $12,000in student loans at an annual interest rate of 9%. If Jack repays $1,500 per year then how long (to the nearest year) will it take him to repay the loan?I thought the formula needed to find the interest rate is i= (FW/PW) ^ (1/# of years) - 1. frim what i understand givens are F = 100000, P = 80000, n = 15. and i dint know why A is given but its 5000. I need this type of notation (A/P, i%, 15) not pure math notation Vi paja (e) $5,000 now for $225 at the end of each year 3-9. A company can either buy certain land for outdoor storage of equipment or lease it on a 15-year lease. The purchase price is $80,000. The annual rental is $5,000 payable at the start of each year. In either case, the company must pay property taxes, assessments, and upkeep. It is estimated that the land will be needed for only 15 years and will be salable for $100,000 at the end of the 15-year period. What rate of return before income taxes will company receive by buying the land instead of leasing it? (Ans. 7.7%) 100 for a prepaidURGENT! PLEASE WRITE LEGIBLE. Question Suppose we deposit $1500 into an account that pays a simple interest rate of0.5% each month. Find the amount of interest earned at the end of 3 years?
- . The price of a car you want is $35,000 today. Its price is expected to increase by $1000 each year.You now have $21,000 in an investment account, which is earning 7% per year. How many yearswill it be before you have enough to buy the car without borrowing any money? (Use Goal Seek todetermine the time taken.)SHOW SOLUTIONS AND WRITE NEATLY THE FORMULA COMPOUND INTEREST What nominal rate compunded monthly will yiled an effective interest rate of 5.78% in 2 decimal places. INPUT the % signPlease answer using Annuity Formula. Step by step. Thank you.
- Interest can be computed more frequently than one time a year Select one: O True O False1. If the nominal interest rate of is 2% per quarter, what is the nominal rate per year ? 2. $100 of interest is paid each month on an investment of $10000, if the interest is compounded monthly at the end of 2 years, what is the accumulation at the end of two years?11. What is the value of the bank account at the end of 25 years if the initial deposit is $25,000 at a rate of interest of 7% per annum.
- uestion 3 If you want to minimize interest payments on a loan, you'll need one that has a simple interest rate so that yo John opened an account, and knew exactly how much it would be worth at the end of the year, because it used year. What is simple interest? Oa. Interest only on original amount saved or borrowed Ob. interest on original amount saved, borrowed and other interest earned Oc. a fee paid for the use of someone else's money Od. taxes on the original amount saved or borrowed L A Moving to another question will save this response. →Show complete solution (please write eligibly) 1. Find the uniform annual amount that is equivalent to a uniform gradient series in which the first year’s payment is $500, the second year’s payment is $600, the third year’s payment is $700, and so on, and there are a total of 22 payments. The annual interest rate is 11%. Round answer to 2 decimal places.It is likely that airplane tickets will increase 8% in each of the next 5 years. The cost of a plane ticket at the end of the first year will be 10622. How much money would need to be placed in a savings account now to have money to pay for a trip at the end of each year for the next 5 years? Assume the savings account pays 2% annual interest. Round your answer to 2 decimal places.