Ben borrowed PHP 1,300,000 from a finance company that charges interest at 16% compounded semi-annually. He promised to pay off the loan in 18 semi-annual payments. The first payment is to be made at the end of 2 years. Find his semi-annual payment. PHP 191,701.09 PHP 132,817.77 PHP 101,281.16 PHP 174,738.08 None of the above

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A: Solution:- When an amount is taken as loan, it is either to be repaid as lump sum payment or in…

Q: Atsushi Murasakibara owes a debt to a lending company of P30,000.00 due in 1 year and another…

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A: Given information Loan amount = R450,000 Time Period = 4 years  Interest rate =10% p.a compounded…

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A: Given Information : Cost of home = 4,570,000 pesos Period of loan = 20 years Annual interest rate =…

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A: Interest means the extra amount which we received because of investment made and will be paid in…

Q: The problem describes a debt to be amortized. (Round your answers to the nearest cent.) Sean Lee…

A: We will use present value of ordinary annuity formula to calculate size of quarterly payment.

Q: Mina borrowed Php 10,000 from a financing institution which agreed to charge an annual simple…

A: Note: It has been assumed that the given options are just the choices given with positive numbers…

Q: Mr. Santos borrowed a certain amount from Bank A with an interest of 5% compounded quarterly and he…

A: EMI = P × r × (1 + r)n((1 + r)n-1) where, P= Loan Amount r= Interest rate n= tenure

Q: 1. Gabriel bought a new car worth PhP 2M. He made a downpayment worth "X" pesos. After this, he must…

A: B. PhP 413,280 Explanation: The monthly payment will start 3 years from now, which means that if…

Q: Daryl Yap invested the amount of Php100,000 in a bank that offers 15 % per annum simple interest.…

A:

Q: A friend of yours borrows $19,500 from the bank at 8% annually to be repaid in 10 equal annual…

A: Accumulated interest paid:Accumulated interest paid is the comprehensive sum of interest accrued and…

Q: Dan invested Php 25,000 in a time deposit account that earns 1.25% simple interest rate for 30 days.…

A: In finance interest can be simple interest or compound interest. Simple interest is that interest…

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A: We usually take loans to buy large ticket items like a machine, an equipment, a car or a house. The…

Q: 1. Mr. Sosa borrowed Php. 1,500,000 for the purchase of a car. If his monthly payment is Php.27,000…

A: We take loans to buy expensive things like a house or a car which otherwise we could not have bought…

Q: Calex applied for a business loan of Php 750,000, to be repaid in monthly installments of Php…

A: We need to use NPER function in excel to calculate number of monthly payments.  The formula is…

Q: Jerome borrows ₱75,000 from the bank that advertises a 8% of simple interest rate and repays the…

A: Annual percentage Rate (APR) refers to an interest charged on an amount that is earned by investors.

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A: Loans are paid by the annual payments that carry the payment for interest and payment for loan also.

Q: A businessman borrowed P220,000 with interest at the rate of 4.2% compounded semi-annually. He…

A: The future value of money is the amount of money that will be worth at some point in the future if…

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A: Loan can be amortized by repaying it in equal instalments. Each payment comprises of both interest…

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A: Given: Borrowed amount = Php 4,605 Future value = Php 5,000 Number of months = 10 months 6 months…

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A: Here we will use the concept of time value of money. As per the concept of time value of money the…

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A: Time value of money (TVM) refers to the concept which proves that the value of money today is higher…

Q: Dustin obtained a business loan of $220,000 at 5.21% compounded semi-annually.a. What was the size…

A: Sure, let's tackle these questions step by step.a. To find the size of the semi-annual payments to…

Q: Lexi took out a loan from a loan shark with an interest rate of 5% bi-monthly, compounded…

A: Interest rate = 5% bi-monthly compounded semi-monthly Which means the interest rate is 5% every 2…

Q: A man borrowed $300,000 from a finance company that charges interest at 16% compounded…

A: Amount borrowed is $300,000. Interest rate 16%. Term of loan payment 12.

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A: The series of monthly payments is a form of annuity wherein an equal amount is paid every month.

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Q: Q1) A man deposited $10,000 in a bank saving account that pays X % / year compounded monthly. He…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: A man paid a 10% downpayment of P 200,000 for a house and lot and agreed to pay the balance on…

A: Monthly Installment: an installment loan in which payments are paid at predetermined intervals; the…

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A: The discounted cash flow method is a valuation metric that is used to arrive at the value of the…

Q: tained a loan from the bank worth P 400,000.00 payable within 4 years from the time the loan was…

A: The given problem can be solved using PMT function in excel. PMT function computes installment…

Q: A person requested a personal loan from the bank and owes 2,500,000 pesos, which he has to pay at 9%…

A: Loans are paid by equal monthly payments that carry payment for interest and payment for loan also.

Q: man borrowed PhP 300,000 and agreed to pay his bligation by paying 8 equal annual payment of PhP…

A: Loans are paid by the annual payments that carry the payment of interest and payment of principal…

Q: How much money is requested from the bank if the simple interest rate is 12. 987%?

A: Simple interest method is a method of computing interest on borrowed amount where interest is…

Q: usinessman borrowed P300,000 with interest at the rate of 6% compounded annually. He agrees to…

A: The annual payment depends on the interest rate and original amount of loan and deferred period of…

Q: A debtor owes Ryan the following sums, due without interest: Php 1000 due at the end of 2 years and…

A: To solve this question we first need to discount both the payments to PV using the formula below: PV…

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A: Given,  Loan Amount - 211,000 Interest rate = 9% (compounded monthly) Period - 12 years

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A: The question is based on the concept of Financial Management.

Q: John bought a condo for RM 630,000. He made a 15% down payment and financed the balance through a…

A: MONTHLY PAYMENT: PMT=P×rm1-1+rm-m×n p=loan amount (principal) m=frequency of compounding n=number of…

Q: Lawrence borrowed some money 5 years ago at 15% interest compounded semiannually. He paid Php 6,700…

A: Interest means the extra amount which we received because of investment made and will be paid in…

Q: A student decides to make annual payments of Php 1619 into a bank that has a nominal interest of 4%…

A: Formula Future value = P*((1+i)n-1)/i Where P = Annual payment i.e. Php 1619 i = Annual interest…