If you deposit OR 4500 into an account paying 8% annual interest compounded monthly, how much money will be in the account after 9 years? What is amount of interest?
What will a deposit of $3500 at 10% compounded monthly be worth if left in the bank for 8 years?
How much money would you need to deposit today at 8% annual interest compounded monthly to have $1200 in the account after 12 years?
Find the present value of $1000 to be received at the end of 2 years at a 12% nominal annual interest rate compounded quarterly.
What annual interest rate is implied if you lend someone $1700 and are repaid $1910 in two years?
Suppose that a savings account is compounded monthly with a principal of $1350. After 8 months, the amount increased to $1424. What was the per annum interest rate?
How long does it take for $4300 to grow into $6720 at 9% compounded quarterly?
What amount must be invested now in a saving account earning 10% compounded quarterly to accumulate a total of OR 21000 after 4 3/4 years.
Ahmed wants to provide a OR 25000 graduation gift for his daughter Maya. She is now 16 years old and he would like the fund to be available by the time she is 20 years old. He decides on an investment that pays 10% compounded quarterly. How large must the deposit be? Find the interest earned at the end of 4 years if 39700 OR is invested at 12% compounded bimonthly.
Q. 10 The maturity value of a five year, 8000 OR compound interest investment certificate was 10427.99 OR. What quarterly compounded nominal interest rate did the investment certificate earned?
Q. 11 On July 1 and September 1, Khalid placed OR 2,000 into an account paying 3% compounded monthly. How much was in the account on October 1?
Q. 12 A Company borrowed OR 20,000 at 8% interest, compounded semi-annually, to be paid off in one payment at the end of four years. At the end of the four years, Company made a payment of OR 8,000 and refinanced the remaining balance at 6% interest, compounded monthly, to be paid at the end of two years. What is the amount Company owes at the end of the two years?
Q. 13 A woman deposited OR10,000 into an account at her bank. The money was left on deposit for 10 years. During the first five years the woman earned 9% interest, compounded monthly. The bank then changed its interest policy so that the second five years the woman earned 6% interest, compounded quarterly.
(i) How much money was in the account at the end of the 10 years?
(ii) Calculate the rate of return that the woman receive.