Dates
A promissory note for $600 dated May 15, 2021, requires an interest payment of $150 at maturity. If interest is 9% compounded monthly, after how many years the notes will mature?
What is 2.48years
What is the effective annual rate of interest if $450 grows to $750 in 3 years and 5 months compounded monthly?
What is 16.126%
How long will it take $400 to Accumulate to $760 at 7% p.a. compounded semi-annually?
What is 9.33 years
A debt of $600 was to be repaid in 15 months. If$705.25 was repaid, what was the nominal rate compounded monthly that was charged?
what is 12.9999%
Sofia made a deposit of $600 into a bank account that earns interest at 3.5% com- pounded monthly. The deposit earns interest at that rate for five years.
Determine the balance of the account at the end of the period.
How much interest is earned?
What is the effective rate of interest?
What is $714.565,$114.565, 3.556%
What is the effective annual rate of interest if 200 grow to 350 in 5 years compounded quarterly?
What is 11.84%
A loan of $5000 taken out today is to be repaid by a payment of $2000 in nine months, a payment of$2500 in two years, and a final payment of $1200. If interest is 9% compounded monthly, when should the final payment be made?
19.08months
In purchasing his brother's car, Mahood agreed to take over the payment obligations. Three payments were required: $8000 in 2 months, $1600 in 5 months, and $4500 in 13 months. The current bank borrowing rate is 8.7% compounded monthly. If one payment of$15 OOO would replace the three payments, when would that one payment have to be made?
What is 14.33 months