1.) You can borrow $25,000 at an annual interest rate of 6% compounded quarterly
ID: 1185797 • Letter: 1
Question
1.) You can borrow $25,000 at an annual interest rate of 6% compounded quarterly. Equal payment will be made every quarter over a five year period. What will the quarterly payment be?<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
2.) You can borrow $25,000 at an annual interest rate of 6% compounded monthly. Equal payment will be made every quarter over a five year period. What is the quarterly interest rate?
I=1.5%
I=1.51%
I=1.52%
I=1.53%
none
3.) You can borrow $25,000 at an annual interest rate of 6% compounded monthly. Equal payment will be made every quarter over a five year period. What is the annual effective interest rate?
6.17%
6.14%
6.09%
6.00%
None
4.) You can borrow $25,000 at an annual interest rate of 8% compounded monthly. Equal payment will be made every quarter over a five year period. What will the quarterly payment be?
5.) How long will it take an investment to triple if the interest rate is 6% compounded quarterly?
18.85years
18.45years
18.25years
18.05years
None
6.) A series of equal quarterly payments of $8,000 for 15 years is equivalent to what present amount at an interest rate of 9% compounded semi-yearly?
$63,731.15
$82,189.23
$80,753.22
$64,485.51
None
7.) You are making $1,000 quarterly deposits into a fund that pays interest at a rate of 8% compounded quarterly. What would be the balance at the end of 10 years?
$60,402
$82,189.23
$80,753.22
$64,485.51
None
8.) If $500 is deposited into a savings account at the beginning of each quarter for 10 years and the account earns 8% interest rate compounded quarterly, what will be the balance at the end of 10 years?
$28,933
$30,201
$31,421
$30,805
none
Explanation / Answer
1) 1400
2) 1.5 %
3) 09%
4) 1500
5) 45 years
6) 80753.22
7) 82189.23
8) 30805
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.