Reference no: EM132671404

A non-interest bearing promissory note has a face value of $950. Find the proceeds of this note if it is discounted 3½ years before its maturity date at 8% compounded quarterly.

A payment of $1200 is due in twelve months. Find the equivalent value at six months. The interest rate is 10% compounded semi-annually.

A payment of $1500 is due in three months. Find the equivalent value at nine months if the interest rate is 4% compounded quarterly.

Determine the sum of money that will grow to $18,530 in four years, eleven months at 5.2% compounded quarterly.

Andre Castello owns a savings account that is paying 2.5% interest compounded annually His current balance is $7.598.42. How much interest will he earn over 5 years if the rate remains constant?

A loan of $2982 is repaid in three years. Find the amount of interest paid on the loan if it is compounded quarterly at 10%.

How much should be invested now to have $15,000 in six years if interest is 4% compounded quarterly?

Two debt payments, the first in the amount of $1600.00 due today, and the second in the amount of $7200.00 due in 15 months with interest at 9.6% p.a. compounded quarterly, are to be settled by a payment of $3400.00 nine months from now and a final payment in 21 months. Determine the size of the final payment if the money is worth 12.12% p.a. compounded monthly.

Susan Bertrees can invest $12,000 at 2% interest compounded twice a year or compounded quarterly. If either investment is for 5 years, which investment results in more interest? How much more interest is yielded by the better investment?