Question

A person borrows $550.00 with interest at 12.5% compounded quarterly for 4 years 7 months. If simple interest is used for part of an interest conversion period, how much is required to pay off the debt at the end of 4 years 7 months? $

Answer #1

a) A person borrows $6650.00 with interest at 15.5% compounded
quarterly for 4 years 7 months. If simple interest is used for part
of an interest conversion period, how much is required to pay off
the debt at the end of 4 years 7 months?
b)A person invests $7500.00 at 6.75% compounded semiannually on
October 1, 2018. If simple interest is allowed for part of an
interest conversion period, how much is the investment worth June
1, 2022?
c) On...

On March 2, 2020, Bob borrows $1325.00 with 11.25% compounded
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29, 2024? $

On March 2, 2020, Bob borrows $4025.00 with 12.25% compounded
monthly. If simple interest is used for part of an interest
conversion period, how much is required to settle the debt on July
27, 2025?

1. What nominal rate compounded annually would
quadruple the principal in 4
years?
2. A master card compounds monthly and charges an interest of 1.5%
per month.
What is the effective interest rate per year?
3. How long will it take money to triple itself if invested at 8%
compounded
annually?
4. Microsoft CEO, billionaire Bill Gates willed that a sum of $25
million be given to a
child but will be held in trust by the childâ€™s mother until...

A person deposits $17000 in an account which earns 6% compounded
quarterly. At the end of 4 years the person withdraws $4250, and at
the end of 7 years they withdraw $5950. How much can be withdrawn
at the end of 9 years in order to deplete the account?

A mechanic borrows $7500 to expand his garage. The interest rate
is 14% compounded quarterly with payments due every quarter. What
are the quarterly payments if the loan is to be paid off in 5
years? (Round your final answer to two decimal places.)

You have deposited $10,000 in a bank earning interest at 7% p.a.
compounded quarterly for four years and five months. At that time,
the interest rate changes to 6% p.a. compounded monthly. What is
the value of the deposit three years after the change in the rate
of interest?
What nominal annual rate compounded quarterly is equivalent to
7.5% p.a. compounded monthly?
You have decided to deposit $500 in the Montreal bank at the end
of each quarter for seven...

An
artist borrows $380,000 for her art project. At 15% APR compounded
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Rahul deposits $5000.00 in an account on April 1, 2016 which
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Mrs. Grey borrowed $5000 due in 18 months with interest at 6.50%
compounded quarterly. The lender agrees to have her pay $1500 in
four months, $1000 in one year and the balance in two years. If the
money is worth 5.00% compounded monthly, calculate the payment two
years from now that would liquidate Mrs. Greys debt.

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