Mr Cruz is preparing his retirement at a certain period “n” year from now, he deposits a uniform amount of 3500 pesos at the end of each year into a fund that earns an interest of 3.5% compounded annually. Find the value of “n” when the compound amount factor due to the series of equal deposits is equal to 35.3437
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Mr Cruz is preparing his retirement at a certain period “n” year from now, he deposits a uniform amount of 3500 pesos at the end of each year into a fund that earns an interest of 3.5% compounded annually. Find the value of “n” when the compound amount factor due to the series of equal deposits is equal to 35.3437
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- Suppose you are a beneficiary designated to immediately receive ₱9201 each year for 7 years, earning an annual interest rate of 4%. The future value of the stream of income payments is Round your answer to 2 decimal places.Mr Dela Cruz deposited ₱18,980.00 from the project you’ve earned in a time deposit account with your savings bank at a rate of 1.25 per annum. This will mature in mature in two years. Compute for the interest and the total amount to be collected.Mr. Espinoza's debt of P160,000 is amortized by making equal payments at the end of every three months for six years with 4.3% interest rate compounded quarterly. How much is the quarterly payment? Construct an amortization schedule. How much will Mr. Espinoza pay after the term? Do you think that the total amount paid is fair given the total interest and the term of the annuity? Why or why not? Explain in your own words.
- Pedro, who deposited P500,000.00 today with a financial Institution M, agreed with the latter that Pedro’s money shall earn monthly compounded interest. If the prevailing interest rate of the Institution M is 8 % compounded yearly, how much will the value of his deposit be after 14 months?Pedro, who deposited P500,000.00 today with a financial Institution M, agreed with the latter that Pedro’s money shall earn monthly compounded interest. If the prevailing interest rate of the Institution M is 8 % compounded yearly, how much will the value of his deposit be after 14 months? show formula used and systematic solutionA man wishes to have an amount of P2,769.84 after 5 years. He deposited P500 each year into a savings bank that pay "r" percent per annum compounded continuously. Compute the value of "r". *written solution please
- - Mr. Cruz plans to deposit for the education of his 5 year old son, Php 5831 at the end of each year for 10 years at 11.41 % annual interest compounded annually. What will be the amount available after 10 years? - What is the present worth of a 6-year annuity paying P3,000.00 starting at the end of five years, with interest at 8% compounded semiannually?A man deposits $11,000 at the beginning of each year for 10 years in an account paying 5% compounded annually. He then puts the total amount on deposit in another account paying 9% compounded semiannually for another 7 years. Find the final amount on deposit after the entire 17-year period. He will have a final amount of $ after the entire 17-year period. (Simplify your answer. Round to the nearest cent as needed.)Mr. Chips, Inc. wishes to accumulate $1,200,000 to be used to pay off a balloon note at the end of 5 years. How much will Mr. Chips need to invest today to accumulate the desired amount if the investment earns an annual rate of 8% compounded quarterly? (Select the closest amount.) Select one: O A. $807,564 O O O B. $1,086,877 C. $257,458 D. $1,783,167
- Josh invests P500 per quarter for his retirement at 7.3% compounding quarterly for 32 years. He has a choice of making that payment of P500 at the beginning or the end of the quarter (regular annuity or annuity due). In which account will he have more money and by how much?Mae expects to receive $1,000 at the end of each of the next three years. She will deposit these payments into an account which pays 10%, compounded semi-annually. How much will be the future value of these payments, that is, the value at the end of the third year? a. $7,986.00 b. $3,318.01 c. $3,993.00 d. $665.50An accountant is entitled to received 35,000 pesos at the beginning of each year for 18 years. What is the present value in pesos of this annuity at the time he is suppose to receive the first payment if the rate of interest is 3% compounded annually? need answer in 20 mins sorry for rushing