Hello!

Can you help me to solve these questions, please! I'd appreciated it! Thanks for your help!

Question 1:Francis deposited $12,200 into an investment account earning 6% compounded monthly (j12). How much will he have in the account after 5.5 years? Round your answer to 2 decimal places.

Question 2:Sean invested $32,000 into an account that earned 8% compounded quarterly (j4) for 9.0 years. How much interest did he earn during this time? Round your answer to 2 decimal places. Question 3: Imagine that you have $14,000 to invest for 13 years. How much more interest will you earn if you choose an account that pays 7% compounded annually (j1) instead of an account that pays a simple interest rate of 7% per annum? Round your answer to 2 decimal places.

Question4: Jerry borrowed $7,000 from his sister Carol and agreed to pay the money back with interest at j12=3.6% (monthly compounding). Jerry will make three equal payments. The first in one year, the second in two years, and the third in three years. Calculate the amount of each payment. Round your answer to 2 decimals.

Question 5: A five-year $5,100 promissory note bearing interest at 6% compounded monthly (j12) was sold after two years and three months. Calculate the sale price using a discount rate of 9% compounded quarterly (j4). Round your answer to 2 decimal places.

Answer rating: 100% (QA)

Question 1 To calculate the future value of the investment after 55 years we can use the formula for compound interest Future Value Principal 1 Interest Rate Number of Compounding PeriodsNumber of Com... View the full answer