1.) An eligible Pag-IBIG member may borrow up to 80% of his total accumulated value (TAV) subject to the terms and conditions of the program. After a strong typhoon, Mang Liloy applied for a calamity loan of $30,000. The current interest rate for the calamity loan is 5.95% per annum. How much interest does Mang Liloy have to pay at the end of 1 year? 2.) How long will it take $200,000 to amount to half a million pesos if the simple interest rate is 8.25% per annum? 3.) Find the compound amount and interest if $400,000 is invested at 8% compounded quarterly for five years and six months.

1.) An eligible Pag-IBIG member may borrow up to 80% of his total accumulated value (TAV) subject to the terms and conditions of the program. After a strong typhoon, Mang Liloy applied for a calamity loan of $30,000. The current interest rate for the calamity loan is 5.95% per annum. How much interest does Mang Liloy have to pay at the end of 1 year? 2.) How long will it take $200,000 to amount to half a million pesos if the simple interest rate is 8.25% per annum? 3.) Find the compound amount and interest if $400,000 is invested at 8% compounded quarterly for five years and six months.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 19P

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