3. Capital of 3 200 EUR was paid to the bank, the half-yearly interest rate is...

Question

Question

3. Capital of 3 200 EUR was paid to the bank, the half-yearly interest rate is 2%, monthly capitalization. Calculate the amount you will get after 2 years

business finance

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

To calculate Feature value of 3200 monthly capitalised. At the rate of 2% for 2 years is.

FV= P(1+r/t)^nxt

^{FV= 3200(1+0.02/12)}^{whole power 2x12}

FV= 3200( 1+0.0016)²⁴

^{FV= 3200( 1.041)}

^{FV= 3330}

Add a comment

Answer 2

Similar Homework Help Questions

The bank pays a 3% yearly interest rate and you will put $5,000 in the bank...

The bank pays a 3% yearly interest rate and you will put $5,000 in the bank account at the end of each year for 15 years. After the last deposit, how much will be in your bank account? Alternatively, you make a single payment today rather than funding this amount by making yearly payments, what will be the amount of that payment? What is the present value of your annuity at time zero? Are these two amounts the same?
You need 400,000 to buy a flat. So, you go to the bank and ask for that amount. The bank offers an annual interest rate of 3%, and the loan has to be paid back in 20 years, in constant monthly...

You need 400,000 to buy a flat. So, you go to the bank and ask for that amount. The bank offers an annual interest rate of 3%, and the loan has to be paid back in 20 years, in constant monthly payments. Calculate how much you'll have to pay back to the bank every month (write the result with no decimal points) Answer: How much you should invest today in a financial product that offers a 5% interest rate (compounded...
Find the real interest rate (when the compound interest is quarterly) when a capital of EUR...

Find the real interest rate (when the compound interest is quarterly) when a capital of EUR 29,000 gives a final value of EUR 33,000 in 6 years. WITHOUT Excel please.

I need 17-30!! Calculate the yearly interest rate if an investment is paid 1.75% interest every...

I need 17-30!! Calculate the yearly interest rate if an investment is paid 1.75% interest every two months 17 2.18 Calculate the interest rate per interest period if the yearly interest rate is 13% and the number of interest periods per year is three. 2.19 Calculate the number of interest periods per year if the yearly interest rate is 15% and the interest rate per interest period is 2.5% 2.20 Calculate the yearly interest rate if there are 12 interest...
If the annual interest rate is 5% that is compounded daily, monthly and yearly, what is...

If the annual interest rate is 5% that is compounded daily, monthly and yearly, what is the formula to calculate the effective interest after 3 years ?
You want to get a car loan, you know you can afford to pay $200 a month for 36 months. If the bank offers you a yearly i...

You want to get a car loan, you know you can afford to pay $200 a month for 36 months. If the bank offers you a yearly interest rate of 6%, which is compounded monthly, how much can you afford to borrow? Please show the work and explain why this is a uniform series sinking fund example. Thanks!

Problem #2 (30%) To buy a house you ask a bank for a mortgage loan of...

Problem #2 (30%) To buy a house you ask a bank for a mortgage loan of $ 400,000, repayable a mortgage loan of $ 400,000, repayable in 30 years of monthly payments at a yearly interest rate of 3%. After 20 years (240 m yearly interest rate of 3%. After 20 years (240 monthly payments) you decide to pay of the remainder of the loan. A) What is your monthly payment? B) What sum you must pay to the bank...
3. Mr. and Mrs. Mercado decided to sell their house and to deposit the fund in a bank. After computing the interest,...

3. Mr. and Mrs. Mercado decided to sell their house and to deposit the fund in a bank. After computing the interest, they found out that they may withdraw P350,000 yearly for 4 years starting at the end of 7 years when their child will be in college. How much is the fund deposited if the interest rate is 3% compounded annually? 4. A group of employees decided to invest a portion of their bonus. After 3 months from today,...
If 3000 dollars is invested in a bank account at an interest rate of 6 per cent per year, find the amount in the bank after 12 years if interest is compounded annually Find the amount in the bank after 12 years if interest is compounded quaterly Find

If 3000 dollars is invested in a bank account at an interest rate of 6 per cent per year, find the amount in the bank after 12 years if interest is compounded annually Find the amount in the bank after 12 years if interest is compounded quaterly Find the amount in the bank after 12 years if interest is compounded monthly Finally, find the amount in the bank after 12 years if interest is compounded continuously

If 7000 dollars is invested in a bank account at an interest rate of 6 per cent per year,

If 7000 dollars is invested in a bank account at an interest rate of 6 per cent per year,Find the amount in the bank after 13 years if interest is compounded annually:Find the amount in the bank after 13 years if interest is compounded quarterly:Find the amount in the bank after 13 years if interest is compounded monthly:Finally, find the amount in the bank after 13 years if interest is compounded continuously:

3. Capital of 3 200 EUR was paid to the bank, the half-yearly interest rate is...

Homework Answers

Add Answer to:
3. Capital of 3 200 EUR was paid to the bank, the half-yearly interest rate is...

Post as a guest

Earn Coins

The bank pays a 3% yearly interest rate and you will put $5,000 in the bank...

You need 400,000 to buy a flat. So, you go to the bank and ask for that amount. The bank offers an annual interest rate of 3%, and the loan has to be paid back in 20 years, in constant monthly...

Find the real interest rate (when the compound interest is quarterly) when a capital of EUR...

I need 17-30!! Calculate the yearly interest rate if an investment is paid 1.75% interest every...

If the annual interest rate is 5% that is compounded daily, monthly and yearly, what is...

You want to get a car loan, you know you can afford to pay $200 a month for 36 months. If the bank offers you a yearly i...

Problem #2 (30%) To buy a house you ask a bank for a mortgage loan of...

3. Mr. and Mrs. Mercado decided to sell their house and to deposit the fund in a bank. After computing the interest,...

If 3000 dollars is invested in a bank account at an interest rate of 6 per cent per year, find the amount in the bank after 12 years if interest is compounded annually Find the amount in the bank after 12 years if interest is compounded quaterly Find

If 7000 dollars is invested in a bank account at an interest rate of 6 per cent per year,

3. Capital of 3 200 EUR was paid to the bank, the half-yearly interest rate is...

Homework Answers

Add Answer to: 3. Capital of 3 200 EUR was paid to the bank, the half-yearly interest rate is...

Post as a guest

Earn Coins

Add Answer to:
3. Capital of 3 200 EUR was paid to the bank, the half-yearly interest rate is...