Mrs. Chan bought a house in 1985, and have it financed for 30 years at an interest rate of 9.8%. His monthly payment was $1260. In 2005, she decided to pay off the loan. Find the balance of the loan she still owes. Answer in whole number

Q.5 A construction engineer invests a sum of $10 000 in a bank at a nominal interest rate of 16% for 10 years. The compounding is quarterly. Find the maturity amount of the deposit after 10 years?

Please answer ASAP

How many years will be required for a sum of money to double, if the annual interest rate is 10%, compounded quarterly? (correct answer: 5.66)

Please do not SOLVE using EXCEL. Solve it using Manual Computation   Determine the maximum future amount of a 10-year uniform annuity X if it will be withdrawn after 20 years and the money is worth 20% effective.

• Michael purchased a laptop in installment basis worth P25800 and he needs to pay P3200 per beginning of the quarter with an interest rate of 2% compounded quarterly. How many quarters should he pay?

What is the present worth of a 12 year annuity paying P12,000 at the end of each year, with interest at 15% compounded annually?

For having been loyal, trustworthy, and efficient, the company has offered a superior yearly gratuity pay of P20,000 for 10 years with the first payment to be made one year after his retirement. The supervisor, instead, requested that he be paid a lump sum, on the date of his retirement, having less interest that the company would have earned if the gratuity is to be paid in yearly basis. If interest is 15%, what is the equivalent lump sum that he could get?

4. Find the effective rate of interest if the nominal rate is 12 % compounded bi - monhtly.

A civil engineer, 22 years old, has just graduated from college and passed the board exams. He accepts a good job and desires to establish his own retirement fund. At the end of each year thereafter he plans to deposit Php 2,000 in a fund at 15% annual interest. How old will he be when the fund has an accumulated value of Php 1,000,000?