1. On November 20, 2021, JD borrowed Php36,500 from Migs. He promised to pay the principal and 11.75% simple interest on September 19, 2022. How much will Migs receive on the said date?
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- 8. What amount must be repaid on October 10, 2019, if Php6,000 is borrowed on October 10, 2011 at 5.75% simple interest?The owner of Jewel Company had a loan from Metrobank amounting to ₱500,000. The bank requires the borrower to pay interest of 12% per annum and a yearly installment of ₱100,000 on the principal starting October 31, 2021. The loan was taken November 1, 2020. What would be the proper accounting of the given transaction at the end of 2020? A.Long term Loans payable, ₱500,000; Interest payable, ₱10,000 B.Long-term Loans payable, ₱400,000, Short-term Loans payable, ₱100,000; Interest Payable, ₱10,000 C Short-term Loans payable, ₱500,000; Interest Payable, ₱10,000 D Long-term Loans payable, ₱400,000; Short-term Loans payable, ₱100,0001. On October 31, 2019, Strongman Samson borrowed P100,000.00 from Pretty Delilah subject to an interest rate of 6% per year until full payment. If Samson is able to pay both the principal and the interest on March 10, 2020, how much should Samson prepare in order to satisfy his agreement with Delilah?
- 2. Find the interest on Php 22,500 at 8% from March 12 to July 9, 2020. 3. If money is worth 6% simple interest, find the present value of Php 15,000 due at the end of 7 ½ years. 4. A debtor owes Php 22,000 due at the end of 2 years. He asks his creditors for the privilege of paying the debt immediately. At what simple interest, 6% or 8%, would the creditor prefer to compute the required present value, and how much would he gain by the better choice?3. Mr. Ahmad lent RM2000 to an employee on February 18, 2020, with interest at 7.5%. The debt was repaid on December 24, 2020. How much money will Mr. Ahmad receive on the maturity date?What is the interest income for 2021? Philippine Bank granted a loan to a borrower on January 1, 2021. The interest on the loan is 8% payable annually starting December 31, 2023. Principal amount Origination fee charged against the borrower Direct origination cost incurred 3,000,000 100,000 260,300 After considering the origination fee charged to the borrower and the direct origination cost incurred, the effective rate on the loan is 6%. a. 240,000 O b. 189,618 c. 252,824 O d. 180,000
- 7.Anna borrowed money from a bank charging 10% interest last January 12, 2020 and is due on June 12, 2020. If she paid Php5,500 at the end of the loan, what is the amount she borrowed considering exact simple interest? (Clue: Count all the days per monthAssume that time today is Dec. 13, 2022. Determine what is being asked in each problem.1. Coco borrowed ₱100,000 and wishes to repay Kobe at the end of each month with payments of ₱3,000 for as long as necessary. Coco is charged by Kobe 9% interest compounded monthly. How much extra payment should Coco add to his last payment (paid along with the last payment) to completely discharge the loan?2. Coco borrowed ₱100,000 and wishes to repay Kobe at the end of each month with payments of ₱3,000 for as long as necessary. Coco is charged by Kobe 9% interest compounded monthly. How much extra payment does Coco have to settle one month after the last regular level payment to discharge this loan?How much interest interest will be paid by Mr. Scusta Clee, if he borrowed Php515,515 at 3.25% after 8 months?
- Chris Garcia Bank granted a loan to a borrower on January 1,2021. The interest on the loan is 10% payable annually starting December 31,2021. The loan matures in three years on December 31,2023. Data related to the loan are: Principal amount ₱4,000,000 Origination fees charged against the borrower 342,100 Direct origination cost incurred 150,020 Based on the above data, answer the following: (Round off present value factors to four decimal places) 1. The carrying amount of the loan as of January 1,2021 is a. ₱3,807,920 c. ₱4,192,080 b. ₱4,000,000 d. ₱4,492,120 2. The effective interest rate of the loan is a. 9% c.12% b. 10% d.12.19% 3. The interest income to be recognized in 2021 is a. ₱400,000 c. ₱464,185 b. ₱456,950 d. ₱404,291 4. The carrying amount of the loan as of December 31,2021 is a. ₱3,864,870 c. ₱4,000,000 b. ₱3,872,105 d. ₱4,496,411 5. The current portion of the loan as of December 31,2021 is a. Nil c. ₱63,784 b. ₱56,950 d. ₱400,0005. On December 16, 2018, Mr. Anjo Marquez applied for a Php 750,000 loan. After deducing the interest in advance, he received Php 680,000. If the loan is to be repaid at the end of 9 months, at what rate is interest charged?Chris Garcia Bank granted a loan to a borrower on January 1,2021. The interest on the loan is 10% payable annually starting December 31,2021. The loan matures in three years on December 31,2023. Data related to the loan are: Principal amount ₱4,000,000 Origination fees charged against the borrower 342,100 Direct origination cost incurred 150,020 Based on the above data, answer the following: (Round off present value factors to four decimal places) 1. The carrying amount of the loan as of December 31,2021 is a. ₱3,864,870 c. ₱4,000,000 b. ₱3,872,105 d. ₱4,496,411 2. The current portion of the loan as of December 31,2021 is a. Nil c. ₱63,784 b. ₱56,950 d. ₱400,000