Given a nominal interest rate of 1.0% compounded quarterly, determine the starting principal required to produce an accumulated amount of $15000 after 10 years. Round your answer to the nearest dollar. Starting Principal = $
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- Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (Use a 365-day year. Round your answer to the nearest cent.) P = $43,000, r = 9 3/4 % t = 9, compounded quarterly A = $Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (Use a 365-day year. Round your answer to the nearest cent.) P = $120,000, r = 2.75%, t = 4, compounded dailyFind the principal P that corresponds to the future value F = $10,000 under r = 5.2% interest compounded quarterly for t = 18 months. Round your final answer to two decimal places.
- Complete the table below giving the principal P that must be invested at interest rate 10.5 % compounded quarterly to obtain a balance of A = $ 120000 in t years.Calculate the present value (principal) and the compound interest (in $). Use Table 11-2. Round your answers to the nearest cent. CompoundAmount Term ofInvestment NominalRate (%) InterestCompounded PresentValue CompoundInterest $200,000 10 years 4 annuallyIn each situation described below, identify the initial payment, the term interest rate, andthe number of compounding periods. An investment of $5000 at an APR of 3% compounded monthly, followed by anotherinvestment of $5000 made 2 years after the first. What is the value of the account after5 years?
- Use the formula for computing future value using compound interest to determine the value of an account at the end of 7 years if a principal amount of $16,000 is deposited in an account at an annual interest rate of 6% and the interest is compounded monthly The amount after 7 years will be S (Round to the nearest cent as needed.)Consider a loan of $2.5 million that is paid quarterly over a period of 10 years. Calculate the dollar amount of interest and loan principal repaid corresponding to each payment if the interest rate is 9% per year, compounded quarterly. What is the 5th Quarter Interest and also the 5th Quarter Principal Repayment respectively O a $157,274.15 and $232,276.07 O b. $97,158.12 and $95,032.24 O c. $46,919.62 and $32,752.85 O d. $52,601.74 and $42,841.70Use the formula for computing future value using compound interest to determine the value of an account at the end of 9 years if a principal amount is $13,000 is deposited in an account at an annual interest rate of 3% and the interest is compounded quarterly.
- A principal, $30, is invested at 6% interest for 2 years. Determine the future value if the interest is compounded annuallyConsider a loan of $2 million that is paid quarterly over a period of 10 years. Calculate the dollar amount of interest and loan principal repaid corresponding to each payment if the interest rate is 10% per year, compounded quarterly. What is the 5th Quarter Interest and also the 5th Quarter Principal Repayment respectivelyUse the formula for computing future value using compound interest to determine the value of an account at the end of 10 years if a principal amount of $19,000 is deposited in an account at an annual interest rate of 3% and the interest is compounded monthly.