Question: Old MathJax webview please do it in correct and detail way i really need solution don't do question 2 Do question 1 and 7 Question
Old MathJax webview


please do it in correct and detail way i really need solution

don't do question 2 Do question 1 and 7
Question 2 In preparation for any financial emergency, Jack decided to deposit $10,000 in a saving account. The account pays interest at a (nominal) rate of 1.5% per year compounded monthly. Assume that Jack will not withdraw the interest earned at the end of each interest period (month), but instead let it accumulate. How long will Jack need to wait to have $11,106.38 in his account? Question 7 A $5,000 short-term loan was received on September 3rd 2021. This loan is scheduled to be repaid as nine uniform weekly payments. A grace period is granted for 5 weeks during which no repayments are required. The first repayment took place on October 15th and should continue for 8 more weekly payments. a) Create a cash flow diagram of the loan showing both the money received as loan and, in symbols, money paid back to the lender (R/week). b] What is the weekly payment if the contract says that the nominal interest rate on this loan is 30% compounded daily? In this part, please assume that the 5-week grace period is interest-free. That is, the value of time during the grace period is zero. Starting from October 8th midnight, the time value of money follows the contract. c) How much would the weekly payment be had the grace period not been interest free? That is, imagine now that time value of money follows the contract from September 3rd. Question 1 How much will be in each of these following saving plans after 5 years? [a] Deposit $2,000 now and leave it to grow at 5.00% per year. [b] Deposit $2,126 now and leave it to grow at 0.01% per day compounded daily
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