WebGenerally, when someone deposits money in the bank, the bank pays interest to the investor in the form of quarterly interest. But when someone lends money from the … Web16 okt. 2014 · If the nominal annual interest rate is 4%, a beginning balance of $100,000 will be worth $219,112.31 after twenty years if compounded annually. What is the future value of $1,000 after five years at 8% per year? If compounding monthly, $1,489.85 is the …
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WebAn investment earns 4% compounded monthly. Find the value of an initial investment of P5,000 after 6 years. P6,35371 635371 P635371 Correct P 635371 P 6,35371 286 … Web4. An amount borrowed at 29% interest per year, compounded continuously, has accumulated to R38 279,20. 5. Thando invested R10 000 in a special savings account … engineering \\u0026 construction
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Web4 mei 2024 · SECTION 6.5 PROBLEM SET: MISCELLANEOUS APPLICATION PROBLEMS For problems 1 - 4, assume a $200,000 house loan is amortized over 30 years at an interest rate of 5.4%. 5) Mr. Patel wants to pay off his car loan. The monthly payment for his car is $365, and he has 16 payments left. If the loan was financed at 6.5%, how … Web1 apr. 2024 · If you got an average 6% return the following year, it means your investment would be worth $11,236. Over the years, that money can really add up: If you kept that money in a retirement... WebIf you get 4% compounded monthly and withdraw $400 at the end of each… A: You have $10,000 in a bank. If you get 4% compounded monthly and withdraw $400 at the end of each… Q: A student takes out a college loan of $7000 at an annual percentage rate of 5%, compounded monthly.… engineering \u0026 construction naics code