3. You just inherited P1,000,000. While you plan to squander some of it away, how much should you deposit in an account earning 5% interest per year if you would like to have P1,000,000 in the account in 10 years?
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- How much money will you have in seven yearsif you deposit $7,000 in the bank at 8.5% interestcompounded daily?please help me answer this correctly with complete solution thank you! How much should you deposit in an account5% interest semi-annually if you want to have $25,000after 10 years?2. How many years are required for your money to triple if it is invested at 9% compounded? a. annually b. semi-annually c. quarterly,
- a. What is the effective annual interest rate if the nominal annual interest rate is 10%, compounded quarterly? b. What is the effective annual interest rate if the nominal annual interest rate is 10%, compounded monthly? c. What is the effective annual interest rate if the nominal annual interest rate is 10%, compounded daily? d. What is the effective annual interest rate if the nominal annual interest rate is 10%, compounded continuously? e. At what compounding period does the effective annual interest rate very closely approximate continuous compounding? (Consider to the nearest 0.0001)Suppose you deposited $200 at the end of every year for seven years in an account that earned 6% annual effevtive interest. At the end of seven years, how much would the account be worth?Calculate the annual payouts C to be given for 15 years with an interest rate of 8% on an annuity with a present of value of $150,000. Round your answer to the nearest cent. Do not include the dollar sign in your answer.
- 4. How long will it take money to quadruple if it earns 7% compounded semi-annually?Tess wanted to have P100,000 on her bank account at the end of 8 years. She plans to deposit an amount at the beginning of each month at an interest rate of 3.5% compounded quarterly. a. What is her monthly deposits? b. What is the present worth of these deposits?1. How much must you deposit each year to have $20,000 at the end of 15 years with money worth 7%?
- How much is accumulated over two years in each of the following savings plans? a.$40at the end of each month for 24 months at 12 percent compounded monthly b. $30 at the end of the first month, $31 the end of the second month, and so forth, increasing by$1per month, at 12 percent compounded monthly8. An effective rate of interest, which is 12.75%, is equivalent to what percent if compounded continuously.To have a total of $10,000 after 8 years, what principal do you have to deposit in a 4.5 percent saving account compounded monthly?