At a compound interest of 5% per year, the amount that $10,000 one year ago is...

At a compound interest of 5% per year, the amount that $10,000 one year ago is equivalent to now is closest to: Group of answer choices less than $8,000 between $8,000-9,000 between $9,000-10,000 greater than 10,000 None of the answers is correct

Solutions

Expert Solution

Rahul Sunny answered 1 month ago

Next > < Previous

Related Solutions

on a certain amount of money, the difference between the compound interest of a year payable...

on a certain amount of money, the difference between the compound interest of a year payable 4 times per year and the simple interest for a year is AED150. IF THE RATE OF INTEREST IN BOTH CASES IS 5% what is the value of this amount

calculate a loan amortization schedule for a $10,000 loan, 5% annual interest, one payment a year...

calculate a loan amortization schedule for a $10,000 loan, 5% annual interest, one payment a year for 10 years, starting on 1/1/2010. All calculations must be shown, i.e., do not use a “package” to complete this question. Loan period starts from 1/1/2010. I mean the first payment is to be made on 1/1/2010.

A company issues a $10,000 bond with an interest rate of 4% per year. Interest is...

A company issues a $10,000 bond with an interest rate of 4% per year. Interest is paid once per year, and it will mature in 5 years. Investors expect bonds of similar risk and maturity to pay interest of 7%: Show work a. Calculate the selling price of the bond. Round to two decimal places. b. Record the journal entry that the company would record when this bond is issued c. Record the journal entry for the first interest payment

Find the future value (compound amount) and the compound interest, as indicated, for each of the...

Find the future value (compound amount) and the compound interest, as indicated, for each of the following investments. Round answers to the nearest cent. Use a calculator or Table 16-1 to find FVF. Please show entire solution for each question. Thank you! Present Value Rate Term Future Value (Compound Interest 2. $960 6% compounded semiannually 11 years ______ ________ 4. $10,800 10% compounded annually 40 years _______ _______ 6. $14,450 6% compounded quarterly 4 years _______ _________

Find the compound amount for the deposit and the amount of interest earned. $230 at 5.2%...

Find the compound amount for the deposit and the amount of interest earned. $230 at 5.2% compounded semiannually for 17 years The compounded amount after 17 years is $____?. The amount of interest earned is $_____?

Determine the compound interest rate at which an amount becomes tripled in 5 years? 30.25% 12.5%...

Determine the compound interest rate at which an amount becomes tripled in 5 years? 30.25% 12.5% 24.5% 20.25%

If the annual interest rate is 5% (.05), the price of a one-year Treasury bill per...

If the annual interest rate is 5% (.05), the price of a one-year Treasury bill per $100 of face value would be

‏AKA is investing $ 10,000 per year 1 through year 5 at i = 10 %...

‏AKA is investing $ 10,000 per year 1 through year 5 at i = 10 % and $ 16,000 for three years after at i = 14 % . The present worth of this investment is :

Compound Interest 22.) You borrow 1,000,000 for one year from a friend at an interest rate...

Compound Interest 22.) You borrow 1,000,000 for one year from a friend at an interest rate of 1% per month instead of taking a loan from a bank at a rate of 13% per year. Compare how much money you will save or lose on the transaction. 24.) John expects to receive Php 20,000 in 10 years. How much is the money worth now considering interest at 6% compounded quarterly? 25.) A man who won P 500,000 in a lottery...

Compound Interest 8.) The amount of P 20,000 was deposited in a bank earning an interest...

Compound Interest 8.) The amount of P 20,000 was deposited in a bank earning an interest of 6.5% per annum. Determine the total amount at the end of 17 years if the principal and interest were not withdrawn during this period. 9.) The amount of P 150,000 was deposited in the bank earning ang interest of 7.5% per annum. Determine the total amount at the end of 16 years, if the principal and interest were not withdrawn during the period....

Subjects