Answer:
Explanation:
first will need to calculate the Fv future value of this CD
Fv = Pv ( 1 + R )^n n = 4 /12 = 0.333333, r, rate = 4.5/100 = 0.045
Fv = $ 630000 ( 1+ 0.045)^0.33333 = $ 639311.69
a) the current value at 5 % Pv = Fv / ( 1+r)ⁿ
Pv = $ 639311.69 / ( 1.05)^0.3333 = $ 628998.41
b) the current price at 4.25% = $ 639311.69 / ( 1.0425)^0.3333 = $ 630503.20
Answer:
$20,857.24
Explanation:
This is an ordinary annuity question which can be solved using a financial calculator. The inputs are as follows;
Total duration of investment; N = 5
Interest rate per year; I/Y = 6%
Recurring annual payment; PMT = 3,700
One time cashflow; PV = 0
then compute the future value of the annuity; CPT FV = 20,857.244
Therefore, Jan will have $20,857.24 as down payment in 5 years.
Answer:
Explanation: Keep it to One Page. This is a biggie!
Avoid Spelling or Grammar Errors.
Watch Your Tenses.
Avoid the First Person Pronouns.
Make Sure It's Easy to Read.
Let’s just say that the entire year is 365 days. So, we need to divide the APR (13.50%) to 365. This gives us a value of 0.037% and since the the billing cycle is 30 days, we need to multiply 0.037% to 30 to get it’s periodic interest rate. Therefore, the periodic interest rate is 1.11%.
Answer:
True
Explanation:
Quizlet: Name three common types of checking account? basic checking account, interest-banking checking account, and Lifeline checking accounts.
