Edward loaned 55000 to a small business at 4.66% compounded quarterly for 1 year and 9 months how much would the business have to repay her at the end of period
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Edward loaned 55000 to a small business at 4.66% compounded quarterly for 1 year and 9 months how much would the business have to repay her at the end of period
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- 4. Cassie paid P68 000 to a money lending company after one and a half years to fulfill her loan that costs P60 000. What is the interest rate compounded quarterly that is charged to the loan?An employee obtained a loan of P486,555 at the rate of 20.774% compounded bimonthly to build a house. Determine the following: Nominal interest rate compound twice a month %. Amount he has to pay at the end of thw 15 years? Equal amount to be paid at the end of 5th and 7th year to be fully paid.A couple borrows $935,000 for 7 years for the purchase of a vacation home at interest rate of 7 percent. The loan requires that the interest and principle be paid in equal, annual payments. The interest is determined on the declining balance that is owed. What are the required annual payments on the loan? How much is the principal loan balance reduced by during the first year?
- Jeffrey received a $32,950 loan from a bank that was charging interest at 5.75% compounded semi-annually. a. How much does she need to pay at the end of every 6 months to settle the loan in 6 years? Round to the nearest cent b. What was the amount of interest charged on the loan over the 6-year period? Round to the nearest centTina loaned P550,000 at 12% compounded annually. She signed a contract to repay the loan in 25 equal annual payments. If after she has made 15th payment, how much is still unpaid of the original principal? P396,221.78 P81,987.30 P477,611.74 P72,388.26An employee obtained a loan of P486,555 at the rate of 20.774% compounded bimonthly to build a house. Determine the following: 1.Nominal interest rate compound twice a month %. 2.Amount he has to pay at the end of thw 15 years? 3.Equal amount to be paid at the end of 5th and 7th year to be fully paid.
- Mrs Shiirley Abundo borrowed 20, 000.00 at 7.5% compounded quarterly at a certain cooperative. How much interest will be charge if she applies for a 2- year loan? What is the future value? a. 20,445.56 c. 39, 554.34 b. 28, 998.96 d. 30, 336. 24 What is the compound interest? a. 8,998.96 c. 5,996.56 b. 7,998.46 d. 4,338.55Carie purchased a car for $49,000; she paid $4900 as a down payment and financed the balance amount at 3.5% compounded monthly for 4.5 years. What was the amount of interest charged for the entire loan?A businessman borrowed P300,000 with interest at the rate of 6% compounded annually. He agrees to discharge his obligation by paying a series of 6 equal annual payments, the first being due at the end of 5th year. a. What is the value of the annual payments? b. What is the sum of all his payments? c. What is the actual interest that he paid?
- A family takes a S275,000 20 year mortage at 3.50% annually compounded monthly. a. Compute their monthly payments. b. Immediately after the 121 payment, this family receives a $55,000 from an inheritance. They decide to put this entire amount against the amount they owe. Given that the bank expects them to maintain the same monthly payments as in 4a, compute the length of time (months) it will take to pay the laon off.Anna loaned P450,000 at 10% compounded annually. She signed a contract to repay the loan in 20 equal annual payments. If after she has made 12th payment, how much is still unpaid of the original principal? a) P 360,150.15 b) P 257,329.19 c) P 281,987.30 d) P 343,308.34An employee obtained a loan of P10,000 at the rate of 6% compounded annually in order to repair a house. How much must he pay monthly to amortized the loan within a period of 10 years?