olve step by step the following problem (solve in digital format) Manuel owes the following amounts to Mr. Benites: $ 12,100 to be paid within 2 months. $ 13,200 to be paid within 5 months. $ 14,300 to be paid within 9 months. Today, Manuel received the savings fund from the company where he works and wants to pay his debt in advance. a. What amount will he have to pay today to replace the original debt if the interest rate is set at 30% compounded each month? b. How much did Manuel save?

John borrowed P4500 cash from his friend. His friend's condition is that he must pay his debt in 2 years with an interest of 3% one time payment only. However, john plans to set aside an amount of money in his piggy bank every 3months with an interest of 4% compounded quarterly until he can accumulate the total debt and pay it one time to his friend. How much money must John set aside every 3months?

Financial contracts involving investments, mortgages, loans, and so on are based on either a fixed or a variable interest rate. Assume that fixed interest rates are used throughout this question. Zoe deposited $900 in a savings account at her bank. Her account will earn an annual simple interest rate of 7%. If she makes no additional deposits or withdrawals, how much money will she have in her account in 13 years? O $967.41 $2,168.86 O $163.00 O $1,719.00 Now, assume that Zoe's savings institution modifies the terms of her account and agrees to pay 7% in compound interest on her $900 balance. All other things being equal, how much money will Zoe have in her account in 13 years? O $1,719.00 O $963.00 O $2,168.86 O $151.82

Cate bought a new car for $25,000. The bank granted her a loan with a simple interest rate of 7% over a 5-year period. How much will Cate pay in interest by the end of the loan? $3,500 $8,750 $7,142 $1,750

To go on a school trip, Felipe borrows $700. He makes no payments until the end of 4 years, when he pays off the entire loan. The lender charges simple interest at an annual rate of 6%. a) how much total interest will Felipe have to pay? b) what will the total repayment amount be (including interest)?

A man uses a loan program for small businesses to obtain a loan to help expand his vending machine business. The man borrows ​$25,000 for 2 years with a simple interest rate of 1.3​%. Determine the amount of money the man must repay after 2 years.

PLEASE SHOW ALL WORK Ryan bought $ 15,000 from a bank to buy a car at 10% simple Interest. If he paid $ 9,000 as interest while clearing the loan, find the time for which the loan was given.

AS an accountant at City Bank in Boston, Ken, the Loan Officer called you for some help on a loan application that he is working on. One of his customers is looking for a $50,000 loan for a car. He is offering him a 7% 5 year $50,000 loan and asking you to help him calculate the    installment amount.     This is the data Ken sent you:  Face Amount of Loan          $50,000  Contract Rate…                7%  Term of the Loan…..          5 years

Travis Thompson uses his credit card to obtain a cash advance of $600 to pay for his textbooks in medical school. The interest rate charged for the loan is 0.04386% per day. Travis repays the money plus the interest after 30 days. a) Determine the interest charged for the cash advance. b) When he repaid the loan, how much did he pay the credit card company?

A woman decides to purchase a $23000 car, and makes down payment of $3500. She arranges to borrow the remainder from a bank that will charge her 4.5% interest. She will make monthly payments for 4 years. a. Find her monthly payment amount b. determine the total amount she would pay for the car and the total amount of interest paid