Solve the following problem with explanations 1. How much interest would your money earn if you deposited PHP 25, 000. 00 at a simple rate of 3% given the actual date from June 6, 2020 to March 25, 2021.
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Solve the following problem with explanations
1. How much interest would your money earn if you deposited PHP 25, 000. 00 at a simple rate of 3% given the actual date from June 6, 2020 to March 25, 2021.
2. During this time of pandemic, many lending institutions offer a loan package to wage earners. Suppose loan company ABC offers you to borrow money amounting to PHP 50, 000 and payable in 4 years at a simple interest rate of 3% per annum, while loan company XYZ offers a 3% compounded annually. What loan company will you borrow money, then justify why you decide to choose to make loan with that particular loan company.
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- ASSESSMENT WRITTEN WORKS Answer the following problems. Show your complete solutions. 1. How much interest would your money earn if you deposited PHP 25, 000. 00 at a simple rate of 3% given the actual date from June 6, 2020 to March 25, 2021. 2. During this time of pandemic, many lending institutions offer a loan package to wage earners. Suppose loan company ABC offers you to borrow money amounting to PHP 50, 000 and payable in 4 years at a simple interest rate of 3% per annum, while loan company XYZ offers a 3% compounded annually. What loan company will you borrow money, then justify why you decide to choose to make loan with that particular loan company.Solved the problem with explanations 1. During this time of pandemic, many lending institutions offer a loan package to wage earners. Suppose loan company ABC offers you to borrow money amounting to PHP 50, 000 and payable in 4 years at a simple interest rate of 3% per annum, while loan company XYZ offers a 3% compounded annually. What loan company will you borrow money, then justify why you decide to choose to make loan with that particular loan company1. During this time of pandemic, many lending institutions offer a loan package to wage earners. Suppose loan company ABC offers you to borrow money amounting to Php 50,000 and payable in 4 years at a simple interest rate of 3% per annum, while loan company XYZ offers compounded annually. What loan company will you borrow money, then justify why you decided to choose to make loan with that particular loan company. a 3%
- Solve the following. 1. A small business owner Borrowed Php8,500.00 at 9% for 18 months. How much interest will be repaid upon maturity of the loan? 2. If Php5,255.60 is the present value of Php6,350,00 which due at the end of 10 months, find the simple interest rate? 3. How many months will it take for Php10,000.00 to earn Php890.00 if it is invested at 8% simple interest? 4. Find the interest and amount on Php9,700.00 at 4 % for three months. 5. At what rate must Php7,900.00 be invested to accumulate to Php10,600.00 in 120 days? 6. What is the future value of PhP10,000 after three years at 10% compounded semi-annually? 7. XYZ Bank is offering to double your money. If you invest PhP 1,500 at 6% interest compounded quarterly, how long will it take to double your money? 8. Daryl wants to have a total of P4000 in two years so that he can have an upgrading of his bike. He finds an account that pays 5% interest compounded monthly. How much should Daryl deposit into his account so that he…SOLVE FOR NUMBER 4 ONLY 3. Citibank pays 9% ordinary simple interest on a 30-day time deposit. If Gino deposits Php 1 500.00, how much will he have using:a. Exact interest b. Ordinary interest 4. After solving the problem in number 3, what conclusion can you draw between ordinaryand exact interest? If you are the banker, what kind of interest will you use and why?How about if you are the depositor?Jane Smart plans to make the following deposits in an account towards cash purchase of a real estate property. ΕΟΥ 1 3 Deposit $6,000 $20,000 2 $13,000 4 $27,000 cms (a) How much money will the account have immediately after the last deposit if the account earns an interest rate of 8% per year? (b) What is the equivalent uniform annual deposit? 5 $34,000 (a) The amount in the account after the last deposit is $ 111028 (to the nearest dollar). (b) The equivalent uniform annual deposit is $(to the nearest dollar)
- 5. Evaluate This time, you are now challenged to take this quiz. A. Solve for the following problems and show your solution. 1. A lending institution charges its client Php 1,008,000 on a loan of Php 1.6M for 5 years and 3 months. What simple interest rate is being applied?K You have just taken out a five-year loan from a bank to buy an engagement ring. The ring costs $5,500. You plan to put down $1,200 and borrow $4,300. You will need to make annual payments of $1,200 at the end of each year. Show the timeline of the loan from your perspective. How would the timeline differ if you created it from the bank's perspective? Show the timeline of the loan from your perspective. (Select the best choice below.) OA. Year Cash Flow $4,300 0 OB. Year 0 Cash Flow - $1,200 OC. Year Cash Flow $5,500 0 OD. Year 1 - $1,200 1 $1,200 2 Cash Flow - $4,300 $1,200 - $1,200 2 $1,200 - $1,200 - $1,200 2 $1,200 3 - $1,200 3 $1,200 3 - $1,200 3 $1,200 - $1,200 4 $1,200 4 - $1,200 4 $1,200 5 - $1,200 5 $1,200 5 - $1,200 5 $1,200valuate This time, you are now challenged to take this quiz. . Solve for the following problems and show your solution. 1. A lending institution charges its client Php 1,008,000 on a loan of Php 1.6M for 5 years and 3 months. What simple interest rate is being applied? R : 1, 008,000O (1, G00, a00)(24) 1.008,000 8, 400 ,000 o. 12 12 %u
- Please provide the steps to solving this problem using a financial calculator: You just opened a brokerage account, depositing $3,500. You expect the account to earn an interest rate of 9.652%. You also plan on depositing $4,500 at the end of years 5 through 10. What will be the value of the account at the end of 20 years, assuming you earn your expected rate of return?Scenario 2.Suppose that you withdraw ₱ 1,500.00 from your savings account. Over theweekend, several people want to borrow money from you. Read the stories anddecide to whom you will lend your money.Story1. Your younger sister is having a garage sale. She needs cash to makechange for the day. She will sell you a bond for ₱ 1,000.00 You will keep thebond for a week, and she promises to pay you back.Story2. Your older brother has a small business idea but doesn’t have anymoney. He wants to borrow your ₱ 1,500.00 and promises to pay you back ₱1,800.00 in four weeks.Story3. Your best friend at school, whom you know very-well, wants to borrowyour ₱ 1,500.00 to buy cupcakes. She plans to sell at a higher price andpromises to pay you back ₱1,700.00 in two weeks.Whose bonds will you buy? Why?You want to buy a car worth ₱808,000 at Hyundai Branch through EastWest Bank’s 5-year car loan program. EastWest Bank requires you to pay the 20 percent down payment at Hyundai Branch; the remaining balance shall be your amount loaned from EastWest Bank. If the bank uses an annual interest rate of 0.00132%, compounded monthly, determine the following: a.How much money will the bank finance? b.What is the monthly interest rate of your loan? c.How much money will be bank acquired from you in the 5-year car loan? d.How much is your monthly payment? e.How much money will you be spending on buying the ₱808,000 car?