Mr. Mallari borrowed P200, 000. The terms of the loan are 10% interest for 10 years with uniform payments. He just made his third annual payment. How much principal does he still owe?
Q: A company borrowed P25,601 from Feb. 24, 2019 to May 28, 2023 with 0.12 simple interest. Find the…
A: Loan amount P=25,601 Rate of interest r=0.12 Date of borrowing is Feb 24, 2019 and date of repay the…
Q: Question 7 A promissory note to Bobby for $6000 at 7% annual simple interest from May 5 to…
A: According to the question, Face Value = $6000 Bank Discount Rate = 7% = 0.07 Time Period = 123 days…
Q: Find the value of $5000 five years ago when the interest rate is at 6.5%, compounded semiannually.
A: Present value is equal to PV = FV(1+rn)nt where PV is present value . FV is future Value , t is…
Q: .If the rate of interest is 8% compounded quarterly, find the nominal rate of interest.
A: Answer is given below
Q: Annabelle loaned a certain amount from ABC bank. She agrees to pay P5000 at the beginning of each…
A: Pay = 5000 time Period = 6 years. interest rate = 10% compounding quater
Q: Compared the interest earned by $13,000 for seven years at 8% simple interest with interest earned…
A: Given: Principal amount ( P) = $13,000 Interest rate(r) = 8% Time(t) = 7 years
Q: Hunan bought a car priced at $15,800 for 15% down and equal monthly payments for four years. If…
A: Monthly payments refers to a borrower pays down some of the outstanding balance with interest and…
Q: Interest can be computed more frequently than one time a year Select one: O True O False
A: Interest is the price of money that is borrowed.
Q: Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes…
A:
Q: (a) Calculate the amount deposited 1 year ago to have $1000 now at an interest rate of 5% per year.…
A: (a) Total amount accumulated $1000 is equal to the actual deposit plus the interest gain. If X is…
Q: Question 1: If you borrowed 18000$ at 4% annual interest. You agreed to repay the loan with five…
A: Answer; 1)Total Interest: $2,216.44 2)Interest= $448.82Principal=$3,594.47 3)Balance after 3rd…
Q: Q4. A man borrowed $85000 at 7% to purchase a flat. The loan is to be repaid in equal monthly…
A: here we calculate the amount paid on first and second payment so here by using the given information…
Q: In simple interest, the interest for the current period is computed based on the amount (principal…
A: When some amount is deposited in the bank as a principal, the bank pays interest to the savers…
Q: Nicholas made a deposit of $5,000 in a savings account that earns 2% per year. What is the maximum…
A: here we calculate the given by following method as follow;
Q: Mr. Jones borrowed P 200,000 in a bank and promise to pay at end of each year for 10 years,…
A:
Q: You borrow $120,000 today to purchase a new truck. You sign a loan agreement for 4.8% annual…
A:
Q: This refers to the time unit for rate of return. a. Compound Interest b. Simple Interest c.…
A: The rate of return refers to the accumulated amount on an investment or a loan or a deposit after…
Q: You have deposited your $20000 lottery winnings in an account that pays 8%interest compounded…
A:
Q: The sum of $ 26,000 was deposited in a fund earning interest at 8% per annum compounded quarterly.…
A: Interest is the amount paid in excess of the principal amount by the borrower to the lender. The two…
Q: When investing or saving money for retirement, which type of interest would benefit the most from?…
A: When investing or saving money for retirement which type of interest would benefit the most from?…
Q: 7. Represents share in the ownership of the capital corporation. a. Bond b. Mutual fund c. Stock d.…
A: “Stock” represents share in the ownership of the capital corporation Bond is a type of debt…
Q: A loan amounting to ₱ 1,000,000.00 is to be paid within 5 years. If the bank offers 12% nominal rate…
A: Equivalence Monthly Installments or EMI is defined as a method used to repay a loan with easy…
Q: Beam Inc. Bond's are trading today for a price of 768.54. the bond pays annual coupons with a coupon…
A: If: F = Face value P = Current price C = Annual coupon N = Years to maturity and Y = YTM, Then Y =…
Q: EN INTEREST RATE DESIRED INTEREST RATE 6% per week % per quarter % Per month Nominal rate per 6…
A: *Answer: *a year = 52 weeks , hence nominal rate per 6 months = ( 0.186 * 52 ) / 2= 3.64 %…
Q: Question: A loan amounting to ₱ 1,000,000.00 is to be paid within 5 years. If the bank offers 12%…
A: EMI or Equated Monthly Installments is a method to repay a loan with easy monthly payments and this…
Q: A loan is paid off in 15 years with a total of $192,000. It had a 4% interest rate that compounded…
A: Given information, Time period (t): 15 years Compounded monthly (n): 12 times in a year Interest…
Q: n an ordinary annuity (uniform series of payments) if the nominal rate of interest is 8% compounded…
A: a.) CAPITAL RECOVERY FACTOR When compounded quarterly the interest rate is divided by 4 and the…
Q: Mary plans to borrow $10,000 now to start a business. She promised to repay the entire principal…
A: Compound interest: A=P1+r100nWhere, A=AmountP=Principalr=Rate of interestn=Time(In years)
Q: A bank loaned out $25,500, part of it at the rate of 12% annual interest, and the rest at 5% annual…
A: Given: Total amount of loan is = $25,500 The annual rate of interest is = 12% Rest is at = 5% Total…
Q: At 8% annual interest compounded monthly, how long will it take to become a millionaire if you…
A: The annual interest rate is 8%, compounded monthly The amount invested is $150,000 We have to find…
Q: . What is the current value of a $50 payment to be made at the beginning of each year, for three…
A: In economics, present value refers to the current value of a future stream of cash flow. The future…
Q: 49. The interest for an interest period is calculated on the principal plus total amount of interest…
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…
Q: You are borrowing $500,000 to buy a house. The interest rate is 4% compounded monthly. What is…
A: The per month payment is calculated by the following formula: PV=PMTi1-11+in where, PV= Amount of…
Q: Find the interest on the loan if Tim borrows $10,000 for years at a simple interest of 10%.
A: The investors as well as consumers borrow or take loans funds from banks for investment or for…
Q: Frank purchased his house 16 years ago by taking out a 25-year mortgage for $150,000. The mortgage…
A: The term mortgage refers to a loan used to purchase or maintain a home, land, or other types of real…
Q: Does the compounding increases the amount of interest paid over a year atthe same nominal interest…
A: The interest rate is the income earned by the investment in the economy. When the money is invested…
Q: company borrowed $100000 from a bank at an interest rate of 10% compounded monthly. The loan will be…
A: This annuity problem where equal payment will be made across the 36 periods to payoff the loan…
Q: You buy a car for $27000. You get a loan at 7% interest compounded yearly. You will have 60 equal…
A: total interest refers as the total simple interest on a principal amount at a particular rate of…
Q: Rashed wants to make his investment triple its value at the end of twelve (12) years’ time. What…
A: We need to assume some terms such as interest rate , principle amount and then nee dto calculate the…
Q: . Irish is offered to invest in a business firm that will make her money earn 6% compounded
A: Bio monthly has two meaning one is twice in one month or happening every two months . Here i…
Q: What is the maturity date of a loan taken out on September 9, 1998 for 125 days?
A: The loan is taken out on September 9, 1998, for 125 days So maturity date of this loan will be 125…
Q: accounts. How much will Mr. Jones have in his savings account in thirteen years if $50,000 is put in…
A:
Q: What is the accumulated value of a $25 payment to be made at the beginning of each of the next three…
A: PMT = 25 n = 3 r = 9%
Q: Find the present worth of a perpetuity of 1,000 annual payments with interest of 6%
A: According to the question, perpetuity is of 1000 at the interest rate 1% Present value is the…
Q: Discuss and illustrate the different types of annuity.
A: Annuity refers to the contract between an individual and the insurance company where the individual…
Q: Whenever the interest charge for any interest period (a year, for example) is based on the remaining…
A: The rate of interest is the percentage (%) of a loaned sum that a lender charges the borrower as…
Q: What type of interest is obtained when the nominal interest rate is divided by the number of…
A: Nominal interest rate is the cost of borrowing for the person who borrow money and income for , who…
Q: what is the present value of a loan when a monthly payment of ₱3,250 is needed to extinguish for 3.5…
A: Present Value gives the value of a series of cash flows when it has been discounted with the current…
Q: 5. A loan of P 25,000 is made for a period of 18 months, at a simple interest rate of 16% what…
A: The formula for the simple interest that is payable after the loan period is I = (P×R×T)100 ×12 as T…
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- Bobby was desperate. He borrowed $600 from a pawn shop and understood he was to repay the loan starting next month with $100, increasing by $10 per month for a total of 8 months. Actually, he misunderstood. The repayments increased by 10% each month after starting next month at $100. Use a spreadsheet to calculate the monthly interest rate that he thought he was to pay, and what he actually will pay.Ella Stein paid $187.50 interest on a loan of $12,000 for 3 months. What was the rate of interest she paid?A set aside $500 annually in a trust fund which allows interest at 5% effective. What amount does A have to his credit just after the 15th deposit has been made?
- You can afford a $800 per month mortgage payment. You've found a 30 year loan at 7% interest. a) How big of a loan can you afford? b) How much total money will you pay the loan company? c) How much of that money is interest?Mr. Benedito, a grocery store owner, borrows $50,000.00 from a loan shark, handing him a $77,000.00 promissory note with a maturity of 6 months. What is the annual and monthly simple interest rate charged by the loan shark?If you borrowed $24,000 at 12% annual interest. You agreed to repay the loan with five equal annual payments. How much of the total amount repaid is interest? How much of the third annual payment is interest, and how much principal is there? If you decided to pay off your loan after the third payment, how much will you pay?
- Today you deposited $10,000 in a savings account paying 7% annual interest. How much should you have at the end of five years?A certain amount of money doubles after 9 years. Determine its effective interest.How much will a bank deposit of $2,000 that pays 10% compound interest be worth at the end of 3 years?