What is the ending balance from an initial deposit of $5,000 at 14% compounded monthly for 4 years?
Find the amount of interest earned on a deposit of $1,609.25 at 13% compounded monthly for 90 months.
Find the present value of $10,425 in 39 months at 13.75% compounded monthly.
Find the value of an annuity where $275 is deposited at the end of each quarter for 3 years and the interest rate is 9.5% compounded quarterly.
Determine the amount of each payment to be made to a sinking fund with 10 annual payments compounded at 14% annually, in order that enough money will be available to pay off a loan of $5,000.
Find the present value of an ordinary annuity with monthly payments of $274.14 for 48 months at 12% compounded monthly.© BrainMass Inc. brainmass.com March 4, 2021, 7:48 pm ad1c9bdddf
The solution explains how to calculate the amount of money returned with different compounding period. It also elaborates how to calculate the present and future value of an ordinary annuity.