Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE SOLVE 1 TO 5 QUESTIONS. Question 1: To what future value will a principal of $6100.00 amount in three years at 7.6% p.a. compounded:

image text in transcribed

PLEASE SOLVE 1 TO 5 QUESTIONS.

Question 1: To what future value will a principal of $6100.00 amount in three years at 7.6% p.a. compounded: a) annually b) semi-annually c) quarterly d) monthly Question 2: Orange Credit Union expects an average annual growth rate of 16% for the next five years. If the assets of the credit union currently amount to $1.7 million, what will the forecasted assets be in five years? Question 3 A loan for $14320 with interest at 4.75% compounded semi-annually is repaid after 7 years. What is the amount of interest paid? Question 4: An investment of $6300.00 earns interest at 11.96% p.a. compounded monthly for five years. At that time the interest rate is changed to 7% compounded semi-annually. How much will the accumulated value be two and a half years after the change? Question 5: Accumulated $1550.00 at 5.8% p.a. compounded monthly from March 1, 2011, to July 1, 2013, and thereafter at 7.88% p.a. compounded quarterly. What is the amount on April 1, 2015

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Gail Fayerman

1st Canadian Edition

9781118774113, 1118774116, 111803791X, 978-1118037911

Students also viewed these Accounting questions