A company has approved a car plan for its six senior officers in which the company will shoulder 25% of the cost and the difference payable by each officer to a financing company in 48 equal end of the month installments at an interest rate of 1.5% per month. If the cost of each car is P350,000, determine the amount each officer has to pay the financing company per month? PLEASE DO NOT USE EXCEL. PLEASE EXPLAIN USING FORMULAS OPTIONS A. P7,523.90 B. P7,619.22 C. P7,190.00 D. P7,710.94

Q: What rate of interest compounded annually would result in receipt of $28,530 in eight years from an…

A:

Q: Use the continuous compound interest formula to find the indicated value A = $7,800; r =8.59%; t= 10…

A: Formula used for continuous compounding  : A = P e  rt  WhereA = amount P = principal r = rate of…

Q: ash flow diagram for $10,500 being loaned out at an interest rat ear over a period of six years. How…

A: *Answer:

Q: What annual interest rate paid for if: a) Payment of $5,000 per year for 6 years will repay an…

A: Hi Student, Thanks for posting the question. As per the guideline, we are providing answer for the…

Q: In 1915, Anas allegedly borrowed 7,000$ from a large New York bank on the condition that he would…

A:

Q: The present worth of a deposit of $1,000 now and $1,000 every six months for 10 years at an interest…

A: The concept of present value states that money today is worth more than it will be in the future. In…

Q: Assume you graduate from college with ​$26000 in student loans. If your interest rate is fixed at…

A: Compounding refers to the process of getting interest on the principal amount as well as the…

Q: If the simple interest on a sum of money for 3 years at 5% per annum is P2,500, what is the compound…

A: We have, Principal = p Time = 3 years Rate of Interest = 5% Formula of SIMPLE INTEREST (SI)…

Q: How much will a person get when redeeming a bond worth $1,200,000.00 today that will mature in three…

A: Present worth of bond = 1200,000 $ Time = 3 months Bank charges = 4 % per month

Q: Suppose the interest rate is 6.9% APR with monthly compounding. What is the present value of an…

A: The nominal interest rate is 6.9% per year compounded monthly. There is a uniform annuity of $105…

Q: John plans to make 10 equal annual deposits starting one year from now into a fund that pays an…

A: Let the John annual deposit starting one year from now is A i =10%  The cashflow diagram is shown…

Q: What is the future worth amount of a series of equal quarterly payments of $1,000 for 20 years at an…

A: A current asset's Future Worth (FW), which predicts the asset's worth at some point in the future,…

Q: The value of the factor (F/P, 1%, 2) can be found by getting the factor values for (P/F, 1%, 4) and…

A: The formula to calculate the present worth is as follows: Here, F is future…

Q: Which is more desirable: investing P100,000 at 6% per year compound interest for three years, or…

A: There are two options: Investing P100,000 at 6% per year compound interest for three years Investing…

Q: Why does Engineering economic analysis use the compound interest scheme exclusively?

A: Engineering economic decisions refer to the analysis of all the investment decisions related to…

Q: Which method is the best for an investor, to invest at 8% compounded monthly or 8% compounded…

A: The compounding period is important in determining the interest earned on an investment. The more…

Q: Susain are considering investing $280 amount at an interest rate of 5% compounded annually for 15…

A: here we calculate the amount by both simple and compound method and choose the best method and…

Q: What is the equivalent amount today of an annual deposit of Php200000 for 15 years if money is worth…

A: Given information: Annual deposit (A): Php 200,000 Time (N): 15 years Interest rate (i): 7% To…

Q: Joshua's family that claimed a 1,000,000 peso prize on a Christmas party raffle decided to put…

A: Compound interest occurs when the interest earned on the principal of an investment (or loan) is…

Q: How much money must initially be deposited in a savings account paying 5% per year, compounded…

A: Answer: Given that:   How much money must initially be deposited in a savings account paying 5% per…

Q: If one were to continue loaning out 90% of deposits, estimate the total amount of money that can be…

A: Here, it is given that an individual or a bank loaning out 90% of deposits, it implies that 10% will…

Q: Calculate the present worth of 20.00 uniform payments of $8,400 that begin 1 year from now at an…

A: The formula of present worth of a uniform series is: P = A*((1+i)^n-1)/(i*(1+i)^n) Here A is the…

Q: A recent government study reported that a college degree is worth an extra Php 35947 per quarter…

A: Given , Extra Income quarterly = 35947  Interest rate = 6% Quarterly interest rate = 6%/4 = 1.5%…

Q: Answer the question no (c) = Future Value (F)= ? Answer the question no (D)= Present value (G) = ?

A: Future value using present value can be calculated as:F=G(1+r)^n Where F is future value, G is…

Q: To make CDs look more attractive as an investment than they really are, some banks advertise that…

A: We are going to find the compounding interest rate to answer this question. Note: As per Bartleby…

Q: How much would your parents have to deposit each month into an account that grows at a rate of 10%…

A: Interest rate  = 10% compounded annuallyNumber of year =  3 Final amount expected = 90,000

Q: 4. An effective 12.68% per year, compounded monthly, is the closest to: B) 12% per year, A) 12% per…

A: The effective interest rate is simply the interest rate charged yearly or compounded monthly. It is…

Q: Suppose that S1,000 is invested for six years at an interest rate of 10% per year, compounded…

A: Given information, Present value (P)=$1,000 Interest rate (r)= 10% compounded annually Time period…

Q: How much would your parents have to deposit each month into an account that grows at a rate 12% per…

A: Compounding refers to the process of generating earnings or returns on an investment by reinvesting…

Q: An electronic device is available that will reduce this year's labor cost by$13232.The equipment is…

A: When referring to interest compounding, which is calculated twice per month, the term "compounded…

Q: Solve and compare the amounts accumulated by the following simple and compound interest rat P =…

A: Accumulated value, also implied as accumulated amount or cash value, is computed as the sum or total…

Q: Don Money inherited $29.21 from a not-so-rich uncle. If Don Money deposits his money into an account…

A: Compounded interest and continuously compounded interest. are two different methods of calculating…

Q: Khai wants to deposit a lump sum on the day his son is born into an account bearing an interest of…

A: Given Interest rate = 5 % Present value of 4 cashflows in the 18th year 18th  year = 25000 / (1 +…

Q: QUESTION 1 An interest rate of 38% per year, compounded monthly, is nearest to * per year Enter the…

A: DISCLAIMER :- As you posted multiple questions we are supposed to solve the first one only as per…

Q: Identify the payment period and compounding period for the following situations:a. Deposits are made…

A: a. The payment period is quarterly and the compounding period is monthly.

Q: am. 112.

A: The objective of the question is to determine the time it will take for McMillan Company to recover…

Q: How much is ₱ 100,000.00 worth in three years if deposited in a continuously compounded account with…

A: compound interest is the interest on an advance or store determined dependent on both the underlying…

Q: Part IV: The Results As the money supply (increases/decreases), businesses will get (more/less)…

A: The economies around the world tend to work upon the basis of the operations of the entities, such…

Q: 3) Ahmad plans to make the deposits and withdrawals amounts shown in the cash shown below, find how…

A: To find the amount in  account at the end of year 10, we need to calculate the future value of each…

Q: This credit account carries a temporary low introductory rate (teaser rate) of| %. This teaser APR…

A: Solution of the given question is:  The introductory rate is 3.99% This rate applies within the…

Q: At a simple interest rate of 13% per year, determine how long will it take $7,500 to increase to 4…

A: We want want 7500 to become 30,000. Simple interest = 22,500  SI = P× R×T / 100  22500 = 7500 × 13 ×…

Q: recent government study reported that a college degree is worth an extra Php 33753 per quarter…

A: Future worth is the value of the investment at the end of the fixed time. Present worth is the value…

Q: Samson entered into an agreement with "Lovey A & Handsome B Bank" whereby the former shall pay the…

A: Given that Samson shall pay "Lovey A & Handsome B Bank" double the amount after n years. This…

Q: Jennifer Creek is saving up for a new car. She wants to finance no more than $10,000 of the $26,000…

A: Interest is the cost of borrowing money or the return earned on investment. It is typically…