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- Mr. Bacani borrowed money from the bank. He received from the bank P1,842 and promised to repay P2,000 at the end of 10 months. Determine the rate of simple interest. A. 12.19 % B. 12.03 % C. 11.54 % D. 10.29 % Mr. Bacani borrowed money from the bank. He received from the bank P1,842 and promised to repay P2,000 at the end of 10 months. Determine the rate of simple interest. A. 12.19 % B. 12.03 % C. 11.54 % D. 10.29 %OLA#8.4 Tiffany purchased a machine for $22,000 for his company. He paid 5.00% of this amount as a down payment and financed the rest at 6.12% compounded monthly. He paid $1,125 at the end of every month to settle the loan. a. What was the principal portion of payment number 4? b. What was the interest portion of payment number 4? Please reply with algebra using details2. On January 1, 2023, Marie opened a savings account paying 1.5% effective quarterly rate, and placed a PhP500,000 initial deposit. Marie deposits to this account her salary of PhP50,000 she receives every 15th and end of the month. For her bills amounting to PhP25,000 due every 20th of the month, she decided to enroll her bank account for an auto-debit to pay for the bill. a. Create a table the summarizes the balance of Marie's bank savings account after every transaction. Date Balance b. Find the average daily balance of Marie's bank account for the first quarter of 2023. c. Compute for the interest amount she will end at the of the first quarter of 2023.
- A merchant acquires articles for his business for a value of $8,600 paying 30% in cash and the rest with direct financing from the supplier; Two months later he makes a payment of $2,000, agreeing to pay off the debt with a final payment after 6 months. Find the value of the final payment considering that the money is financed at 7%. R $ 4.184,03Belinda borrowed $23,500 at simple interest rate of 5.70% p.a. from her parents to start a business. At the end of 4 months, she paid them $3,800 and $2,700 at the end of 9 months. How much would she have to pay them at the end of 14 months to clear the balance? Use 'now' as the focal date.3. Azman purchased a land at a price of RM 280,000. He paid RM W as a down payment and borrowed the balance from a finance company that charged 6% compounded monthly. (a) If Azman paid RM 1,533.44 at the end of every month for 25 years, calculate the amount of down payment RM W that he made. (b) Immediately after making 121th payment, he had loan refinanced at 4% compounded monthly. What is the new monthly payment if the number of payment remained the same? (c) Calculate the interest charged on his loan. (d) Calculate the effective rate equivalent to the nominal rate in part (b).
- 1. Mr. Sosa borrowed Php. 1,500,000 for the purchase of a car. If his monthly payment is Php.27,000 on a 5-year mortgage, find the total amount of interest. 2. A loan of 7 quarterly payments of Php.8,300 is to be made, to pay for a loan at 10% compounded quarterly. Find the value of the loan. 3. Marilyn owns 1,000 shares of a company at Php.840 per share. She also owns 10,000 shares of another company at Php.240 per share. In which company is the total value of her share greater? Explain. 4. On October 30, 2015. Tess bought 500 shares ACTS stock for Php.640 per share. On November 15, 2016, ACTS paid a Php.620 dividend per share, and on January 15, 2017, she sold the stock for Php.677.80 per share. Dis Tess gain or lose on the investment? How much money did she gain or lose in the investment?Three friends buy a secondhand equipment that costs P120,000.00. They pay P40,000.00 down and the balance in 24 monthly payments. If the interest rate is 6% converted monthly, find the payments due at the end of each month. Select one: O a. P9,561.48 O b. P3,545.65 O c. P1,772.82 d. No answer O e. P5,318.47Phillip purchased a machine for $20,000 for his company. He paid 5.00% of this amount as a down payment and financed the rest at 7.82% compounded quarterly. He paid $1,125 at the end of every quarter to settle the loan. a. What was the principal portion of payment number 4? b. What was the interest portion of payment number 4?
- Haydee Carpio opened a beach resort called Blue Lagoon in Nasugbu, Batangas by investing cash P100,000 and furniture P20,000 on April 1. She signed a contract of lease on the property for ten years promising to pay P25,000 monthly. The following are the additional transactions for April: Paid cash for the purchase of advertising billboards, P15,000. Paid P75,000 for the construction of 5 cottages, 10 huts and an office. Issued a note payable for P50,000 within 30 days. Total cash receipts for the week, P150,00. 5 10 11 Billed Fortune Company for use of resort, P28,000. Paid P50,000 for the note. 18 20 25 Utility bills paid amounted to P18,000. Fortune Company paid its account in full. Total cash receipts amounted to P122,500. Paid for salaries of clerks and helpers, P82,000. Paid for the monthly rental of the property plus advertis ing of P20,000. 26 27 28 29 Post to T-Accounts: Cash Accounts Receivable 100,000 150,000 28,000 4/1 4/5 15,000 11 10 75,000 25 20 50,000 27 122,500 25…Odysseus buys an Odyssey for $45,000.00. He pays $5000.00 down and the remainder in equal monthly payments over 5 years at 8% c.m. a. Calculate the amount of the monthly payment. b. Calculate the total interest charges. c. Determine the balance owing just after the 36th payment. Show the Merchant's Rule. d. Determine the total principal paid during the third year.3. Zafri decides to borrow RM25,000 from a bank that charges 4.7% discount rate for 6 years to set up his business. Calculate the proceeds he receives from the bank.