A six-year, $1650.00 note bearing interest at 9.51% compounded annually was discounted at 11.2% compounded semi-annually yielding
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A six-year, $1650.00 note bearing interest at 9.51% compounded annually was discounted at 11.2% compounded semi-annually yielding proceeds of $1916.75. How many months before the due date was the discount date?
- A 11-year $8000.00 promissory note, with interest at 8.4% compounded monthly, is discounted at 6.5% compounded semi-annually yielding proceeds of $14 631.15. How many months before the due date was the date of discount?
- The Olfert Contractors, Inc., are saving $958.00 every month in order to purchase a new paving machine in twelve years. Their savings certificates pay 6% p.a. compounded monthly. How much of the maturity value will be interest?
- How much interest is included in the accumulated value of $250 paid at the end of every month for 5 years if the interest rate is 4.0% compounded monthly?
- An installment contract for the purchase of a car requires payments of $570.60 at the end of each month for the next three years. Suppose interest is 11.8% p.a. compounded monthly. (A) What is the amount financed? (B) How much is the interest cost?
- A trust fund is set up to make payments of $1320.00 at the end of each month for seven years. Interest on the fund is 7.28% compounded monthly. (A)How much money must be deposited into the fund? (B) How much will be paid out of the fund? (C) How much interest is earned by the fund?
- What payment is required at the end of each month for 5 years to repay a loan of $20 000.00 at 6.0% compounded monthly?
- What deposit made at the end of each quarter will accumulate to $20 000.00 in four years at 4% compounded quarterly?
- How many monthly payments will it take for $1000.00 deposited at the end of each month to amount to $50 000.00 at 9% compounded monthly?
- In what period of time could you pay back a loan of $13 900.00 by making monthly payments of $296.00 if interest is 6.5% compounded monthly?
- What is the accumulated value of deposits of $2000.00 made at the end of every year for three years if interest is 6.00% compounded quarterly?
- What is the discounted value of $4760.00 paid at the end of each year for 7 years if interest is 6.52% compounded quarterly?
- A $ 120 000.00 mortgage is amortized over 25 years. If interest on the mortgage is 8.5% compounded semi-annually, calculate the size of monthly payments made at the end of each month.
- How much must be contributed into an RRSP at the end of each year for 37 years to accumulate to $213 000.00 if interest is 8.04% compounded quarterly?
- How many deposits of $6100.00 made at the end of every 6 months are needed to accumulate to $172 000.00 at 5.24% compounded quarterly?
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