Mrs Cruz has a debt of P90,000.00 which she will settle by making monthly payments of P4,000 each. If money is worth 19% compounded quarterly, and payments are made at the end of each month, a)many regular payments of P4,000 are needed? b)how much is the smaller payment? in 2 decimal values. c)What is the oustanding balance after the 15th payment? 2 decimal values
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Mrs Cruz has a debt of P90,000.00 which she will settle by making monthly payments of P4,000 each. If money is worth 19% compounded quarterly, and payments are made at the end of each month,
a)many regular payments of P4,000 are needed?
b)how much is the smaller payment? in 2 decimal values.
c)What is the oustanding balance after the 15th payment? 2 decimal values
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- Mrs Cruz has a debt of P90,000.00 which she will settle by making monthly payments of P4,000 each. If money is worth 19% compounded quarterly, and payments are made at the end of each month, how many regular payments of P4,000 are needed? how much is the smaller payment? What is the oustanding balance after the 15th payment?Maria wants to have ₱750,000.00 at the end of 4 years for hergraduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly.a.) What is the monthly rate?b.) How many total deposits?A mother deposits P15,500 each quarter in a savings bank paying 12.5% compounded quarterly. If she desires to accumulate P175,000, a). how many full deposits must she make? b). How much will the final deposit be (if any) if it is made 3 months after the last full deposit of P15,500? c). How much will the final deposit be if it is made on the last deposit date?
- Nicole loans P900,000 from bank today which gives her 10% interest rate compounded annually. Based on the contract she needs to pay 10 annual payments and the first being due at the end of 7 years. Find the annual payments. Annual Payment = (2 decimal places only, rounded off. if whole number, no need to add.00)Vilma wants to have P350,000 at the end of 5 years by making a regular deposit at the end of each quarter in an account that pays 9.6% interest, compounded every 3 months. a. Find the amount of quarterly deposit. | b. Find the accumulated amount in the account after the 15th deposit. PLaura wants to accumulate P150,000 in her bank account by depositing P1000 at the beginning of each month. If interest on the account is 10% compounded semi-annually, for how long does Laura have to deposit the money?a.)7.5 Yearsb.)9.8 Yearsc.)6.6 Yearsd.)8.2 Years
- Helen has two debts to pay; a $3500 today and a $4500 in 9months from today. How much should she pay if she wants to combine the two payments into one single payment to be paid in 6 months from today if money earns 4.5% p.a. compounding quarterly?Grace borrowed P150,000 payable in 2 years. To repay the loan, she must pay an amount every month with an interest rate of 6% compounded monthly. How much should he pay every month? P6,468.09 P6,648.90 P6,648.09 P6,684.09You deposit $1.2 milion into vour account to cover expenses in the next 12 vears. The account earns interest at the rate of 4%, compounded annually. Assume you expect the balance of the account to be $0 at the end of the 12th year. A) What annual level of living expenses Will your initial deposit support. (e.g., what equal annual withdrawal can you make for the next 12 years )? b) Suppose you realize your living expenses will increase at an annual rate of 2% due to inflation. Determine the updated annual spending plan in the line with this model how much can you withdrawal at the end of the first year. knowing that your withdrawal will increase by 2% each year? C) Suppose the initial deposit is still planned to support your equal annual expenses in the next 10 years as in part a but don't need to withdraw any money from your account for the first 6 years. You will withdraw from your account annually starting from the end of year 7 till the end of year 12. What annual level of living…
- Raquel will settle her debt my making quarterly payments of P5,800 for 3 years and 6 months but the first payment is made at the end of 1 year. If interest is computed at 14% compounded quarterly, how much is the cash value of the debt? *Maria wants to have ₱750,000.00 at the end of 4 years for her graduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly. 1.) Which of the following refers to the monthly rate? * a.) 12% b.) 0.0125% c.) 15% d.) 1.25% 2.) Which of the following refers to the total number of deposits? * a.) 12 b.) 60 c.) 5 d.) 48If I plan to avail of a loan today and I will pay it P8,388 every start of the month for 6 years charged by an interest rate of 11.1% compounded quarterly. How much money will I take home today if I will avail of the loan, in pesos, answer in two decimal places?