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?

Q: Q7. The annual payment of alorry is 40, 000 Euro find out theloan amount which is granted for4 years…

A: The objective of the question is to find out the loan amount for a lorry with given annual payment,…

Q: Your company is offering a mortage loan with the following terms: 5.00% annual interest rate. Period…

A: A mortgage loan is a financial arrangement where a lender provides funds to a borrower to purchase…

Q: You borrow $11,000 over a 5-year term. The loan is structured as an amortized loan with annual…

A: Loan installment is that which is paid by borrower to lender for a specified period of time. This…

Q: Bank D gives a loan of RM 30,000 to Shahril with interest rate of 8.25% compounded quarterly.…

A: Compound amount of single sum can be calculated by using this equation A=P(1+r)n Where A= Final…

Q: What is the annual interest rate if a simple interest loan of $10,000 for 4 years charges a total of…

A: We need to use simple interest formula to solve this question Simple interest =Principal×Rate×Time

Q: If a borrower repays RM 11430 at the end of two years, which includes RM 2430 interest at a rate of…

A: Repayment amount = RM 11430 Interest amount = RM 2430 Interest rate = 13.5%

Q: 12.) Find the simple interest on a loan of P65,000.00 if the loan is given at a rate of 8% and is…

A: Simple interest is the interest paid on a principal balance for a given period of time at a…

Q: Q7. The annual payment of a lorry is 40,000 Euro find out the loan amount which is granted for 4…

A: The objective of the question is to find out the loan amount for a lorry with an annual payment of…

Q: Cash is borrowed on a 2-month note payable. If the interest cost to borrow is RO 400 what is the…

A: Interest is calculated on the principal amount borrowed by the business.  In the given case if…

Q: You have taken a personal loan from Bank Muscat for 15,000 OMR and charged with an interest rate of…

A: Loan Amortization Table  is as under -

Q: Troy  borrowed Php271,050 at simple interest of 12.21% for 2 years. Compute for the interest and…

A: Simple interest is one of the form of interest which is being charged on amount borrowed but without…

Q: Melvin availed a loan from a bank that gave him an option to pay Php 14,600 monthly for 2 years. Th-…

A: Present value of all monthly payments considering the interest rate and period of payment would give…

Q: Example 6 A person requires a loan of R10 000. The bank offers a simple interest rate of 15% p.a..…

A: Lets understand the basics. For calculating loan period we will need to use below formula. Interest…

Q: (a) Determine the effective rate of interest for 4.275% compounded semiannually. Round your final…

A: Bartleby honor code states that in case of multiple questions, the expert is required to give…

Q: A loan is to be paid by installments of $800 1-month from now, $600 3-months from now, and $500 4-…

A: Loans are paid by the amount that carry the interest on the loan and paid by the single equivalent…

Q: Straight bank loan. Right Bank offers EAR loans of 8.74% and requires a monthly payment on all…

A: Monthly payment formula: PMT = principal ×aprm1-1+aprm-m×n where, m = frequency of compounding n =…

Q: Loan amount = $175,591 Assume that your broker agents introduce/assess you to a local bank of…

A: Mortgage relates to a long-term fixed asset financing option where bank makes payment for fixed…

Q: A. How much is the amount of the loan? B. How much is the payment on the first period? C. For the…

A: The amount of the loan is the stated loan amount. The interest component can be calculated by…

Q: To travel to America via the ship Titanic, Juan made a P100,000 loan which is to be repaid over a…

A: We have to find the annuity that will accumulate to the desired value at the end of the term.…

Q: . Simple Interest Solve the following Problem 1. A man borrowed P45,000 from a lending institution…

A: Simple interest is the rate of interest calculated on the principal amount at the percentage which…

Q: What is the effective annual interest rate on the loan? Car purchased for $29,000 with a 5 year loan…

A: Compound = n = Monthly = 12Interest Rate = r = 9%

Q: You plan to borrow P10,000 from your bank, which offers to lend you the money at a 7.5% nominal rate…

A: Nominal rate (D)= 7.5% Borrowed amount = P10,000

Q: Hanzalah took a loan of RMx from Bank ABC at interest rate of 4.5% compounded monthly. After 10…

A: A loan is a debt amount borrowed by one person from another person at a pre-determined interest…

Q: A borrower seeks to borrower $175,000, 30-year CPM. The lender discloses to the borrower that the…

A: Step 1 A borrower is a person or company who accepts money from a lender with the promise to repay…

Q: A LOAN OF P80,000 IS MADE FOR A PERIOD OF 18 MONTHS AT A SIMPLE INTEREST RATE OF 10%. WHAT DUE AT…

A: Loan amount = P80,000 Annual interest rate = 0.10 or 10% Annual period = 1.5 (i.e. 18 / 12) Amount…

Q: Hanzalah took a loan of RMY from Bank ABC at interest rate of 4.5% compounded monthly.After 10…

A: We need to use compound interest formula to solve this formula A=P(1+i)n Where A=Final payment…

Q: Find the amount (in $) of interest on the loan.

A: Interest: It refers to the monetary charge paid by the borrower to the lender for taking a loan. It…

Q: FRM. (Term=30 years, Note Rate = 5.25, Loan Amount = 800,000, Points=2) What is the FTL annual…

A: Time period is 30 years Loan amount is 800,000 Points =2 To Find: Annual percentage rate

Q: Q7. The annual payment of a lorry is 40,000 Euro find out the loan amount which is granted for 4…

A: The objective of the question is to find out the loan amount and prepare an amortization table for a…

Q: Borrowed $5,000 at a simple interest rate of 10% p.a. and charged interest of $600. What is the time…

A: Principal Amount(P) =$5000 Interest rate(r) = 10% Interest Amount(I) = $600 Time Period =t As per…

Q: (Refer to this word problem The accumulated value of a 3-month loan of P5,000 is P5,085. What is the…

A: Principal (P) = P 5000 Accumulated value (F) = P 5085 n = 3 months = 0.25 years Let r = Simple…

Q: Vijay

A: The objective of the question is to calculate the actuarial rate for a home loan. The actuarial rate…

Q: 6. Find the proceeds of a Php 67,500 loan borrowed last February 16 and due on July 25 of the same…

A: As per the simple interest formula interest can be calculated as = (Principle x Rate x Time) / 100…

Q: Consider a $5,000, 6%, 180-day interest-bearing note and a non-interest- bearing note for the same…

A: The notes are used by borrowers for raising funds that are categorized as interest bearing and…

Q: A BANK CHARGES 15% SIMPLE INTEREST ON A P500.00 LOAN. HOW MUCH WILL BE REPAID IF THE LOAN IS PAID…

A: Present Worth                            P 500.00 Interest Rate 15% Time Period (Months) 3

Q: 9. Marissa took a loan of RMY from Bank Perpaduan at interest rate of 6.5% compounded every two…

A: The formula for compound interest is: A=P(1+rn)nt A is the final amountP is the initial principal…

Q: 167 day simple interest loan for $10,456 has a maturity value of $10,961. What is the simple…

A: Simple interest rate is interest on the loan amount and there is no interest on interest amount.

Q: Calculate the simple interest due on a 72-day loan of P3,000 if the annual interest rate is 4%.

A: Given: Loan = P 3000 Interest rate = 4% number of days in loan = 72 total number of days in year =…

Q: Find the proceeds of a Php 67,500 loan borrowed last February 16 and due on July 25 of the same year…

A: External financing is the outsourcing of funds and refers to investment or financing provided by…

Q: What is the total interest that must be paid by the maker if the term of credit is 5% of Php 20,000…

A: Solution: Note amount = Php 20,000 Interest rate = 5% Period = 3 months