A woman invests $8750 in an account that earns 6% interest per year, compounded quarterly.  Find the value of her investment in 19 years.

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A: The future value is the future worth of the amount that will be paid or received at future.

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A: Future value = Present value(1 + Rate)^Time

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A: The future value is the future worth of the amount that will be paid or received in the future.

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A: As per the guidelines, in the case of two or more individual questions, the answer for the first one…

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A: Future Value = Present Value x (1+ Periodic Interest Rate)^No. of Periods

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A: Borrowed Amount =$130000.00 YEars =28 Terms(m) =28*12 = 336 Monthly Rate(r) = 4.7%/12 = 0.39166667%…

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A: Future Value = Present Value * (1+rate)^n Where, n = no. of years

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A: Amount Borrowed =$85,000.00 Interest Rate = 6.5% = 6.5/12 = 0.54167% Years = 29 Terms = 29*12 = 348…

Q: 1. Meagan invested $1,200 each year in an IRA for 12 years in an account that earned 5% compounded…

A: IRA means individual retirement account. This problem can be solved in light of future value of…

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A: Amount borrowed = $85,000 Interest rate = 5.9% = 5.9/12 = 0.4916666666% or 0.49167% Years = 26 Terms…

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Q: Cristina invests $140.00 a quarter for 9 years into an account earning 9% compounded quarterly.…

A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…

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Q: how much will she have in her account after 11 years

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Q: A woman deposits $10,000 at the end of each year for 14 years in an account paying 7% interest…

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Q: Each month Lara invests $100 in an account earning 4% annual interest compounded monthly. a) Find…

A: PV= $100 r= 4% compounded monthly n= 20 years FV=?   FV= PV(1+r)n FV= $100(1+0.04/12)20*12 FV=…

Q: Each month Lara invests $100 in an account earning 4% annual interest compounded monthly. a)find the…

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Q: Ken deposited $2500 in an account that earns 6% interest, compounded monthly. How much money will…

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Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.