Finance Questions & Answers

An amount of \( \$ 17,000 \) is borrowed for 15 years at \( 7.25 \% \) interest, compounded annually. Assuming that no payments are made, find the amount owed after 15 years. Use the calculator provided and round your answer to the nearest dollar.

General Ledger questions contain multiple tabs.True or False

2. What was the interest rate if your balance on an investment of \( \mathbf{P 2 7 , 7} \) years is P 41.070 ?

Compare the investment below to an investment of the same principal at the same rate compounded annually. principal: \( \$ 7,000 \), annual interest: \( 7 \% \), interest periods: 4 , number of years: 13 After 13 years, the investment compounded periodically will be worth \( \$ \square \) more than the investment compounded annually. (Round to two decimal places as needed.)

Suppose that \( \$ 65,000 \) is invested at \( 4 \frac{1}{2} \% \) interest, compounded quarterly. a) Find the function for the amount to which the investment grows after \( t \) years. b) Find the amount of money in the account at \( t=0,2,7 \), and 10 years. a) The function for the amount to which the investment grows after \( t \) years is \( A(t)=\square \). (Simplify your answer. Type an expression using t as the variable.)

(Simplity your answer. Iype an expression using \( t \) as the variable.) b) Find the amount of money in the account at \( t=0,4,6 \), and 10 years. The amount of money in the account at \( t=0 \) years is \( \$ 58,000 \). (Round to the nearest dollar as needed.) The amount of money in the account at \( t=4 \) years is \( \$ 72,164 \). (Round to the nearest dollar as needed.) The amount of money in the account at \( t=6 \) years is \( \$ \square \). (Round to the nearest dollar as needed.)

CHAPTER : ANNUITY a. Asfila borrowed RM80,000 from a bank for 9 years at the interest of \( 11.5 \% \) compounded monthly. i. Find the monthly repayment. ii. Calculate the total interest paid for the loan. iii. Determine the 3rd repayment amount to settle all the arrears if she has not paid the first 2 repayments. (2 marks) iv. Immediately after the 90th payment, Asfila decided to settle the loan. Calculate the amount of the settlement. After five years of investment, Fazila withdrew RM25,000 to pay a deposit on her desire to buy a new house in Nilai. She approaches the Islamic bank and applies for financing under the concept of Bai Bithaman Ajil for the loan. The bank charges an interest rate of 3.8\% compounded monthly with the period of financing being 25 years, and Fazila pays RM1,350 monthly. Find the cash price of the house.

9. What is \( 58 \% \) off of 750 ? 10. What is \( 17 \% \) off of 600

8. What is \( 9 \% \) off of 200 ? 9. What is \( 58 \% \) off of 750 ? 10. What is \( 17 \% \) off of 600

7. What is \( 58 \% \) off of 300 ? 8. What is \( 9 \% \) off of 200 ?