Question
1. If you deposit P3,650 in an account paying 11.8% interest compounded quarterly, how much will be in the account at the end of 7
1. If you deposit P3,650 in an account paying 11.8% interest compounded quarterly, how much will be in the account at the end of 7 years?
2.If I save P 2,400 today bank account with 9.2% interest, how much will the exact interest be after 14,200 days?
3. Money is worth 10% compounded quarterly. What is the future value of the annuity paying P950 at the end of every quarter for 10 years?
4. Money is worth 8% compounded monthly. What is the future value of annuity paying P2,500 monthly at the beginning of every month for 5 years?
5.ABC Company purchased 15,500 shares of XYZ Corporation at P6.03 during the opening of the trading day. If the brokerage fee is 7.2%, solve for the cost of buying the stocks.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Solving Financial Problems Heres how to solve each financial problem 1 Compound Interest Quarterly Compounding We can use the compound interest formula with quarterly compounding n 4 to find the futur...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started