Directions: Solve the interest rate of the problem below: Problem: Junnie loans ₱40,000 from a lending company to start his carwash business. The loan has an effective interest rate of 8%, payable within two months. How much are theinterest per month and monthly payment with interest on his loan? [KINDLY SHOW COMPLETE SOLUTION] note: use the formula that is usually use when computing nominal/effective interest*

Suppose your parents have decided that after your graduation at the end of the year they would start to save money to help pay for your younger sister to attend University to study Food Process Engineering. They plan to save money for 5 years before she starts college and to save during her university years. They plan to contribute GH¢4,000 per year at the start of each of her 4 university years. Your parents would thus make monthly payments for 8 years, 5 year prior to and 3 during your sister's university education. The monthly interest rate earned on their savings is 0.45%. How much must the monthly savings be under this condition?

ENG. ECONOMY 1. Consider the following problem, How much must be paid on the due date June 26, 2010, on a loan of Php. 35,000.00 made on December 26, 1989 with interest rate of 4 ½ % converted semi annually 2. Create two alternative plans using the data from the 1st problem this time it will be annually. • a. Plan 1: A principal payment of Php. 2,000 and interest every period. • b. Plan 2: Pay the principal and interest in one payment at the end of the year. • c. Explain which of the plan will be the best option for the borrower, will the borrower have equal basis if choose any of the payment options

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Farmer Gene is thinking about letting an energy company put up wind turbines on his land. For a single turbine, the energy company will pay Farmer Gene $20,000 up front then an additional $2500 each MONTH to rent the farmer's land. Create an equation for the income, I, Farmer Gene will receive for a single turbine to be put on his land for M months. (Use capital letters) Equation is 20000(M)+2500 How much income would Farmer Gene get after 1 year (12 months)? Income would be $ 50000 How much income would Farmer Gene get after 15 years? Income would be $ 302500 How many month would it take for Farmer Gene to earn an income of $600,000? It would take 348 months s folio