3. If Php 10,000 was borrowed by Alan at an annual interest rate of 11%, and must be paid in 1 year and 5 months, find the amount due?
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A: Part 1: Amount = 1500 Php Interest Rate = 6% Time period = 5 years Compounded annually
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A: Present Value of Annuity Due refers to a concept which determines the value of cash flows at present…
Q: (1) The total amount of a loan to which interest has been added is P 200,000. The term of the loan…
A: Data given: Total interest = P200,000 t=4.5 years Simple interest = 6% Formula for simple interest…
Q: A man borrowed P12,000 and agreed to repay it with P4,650.70 interest. If the interest is 6%…
A: Borrowed amount (PV) = P12000 Interest amount = P4650.70 Future value (FV) = 12000+4650.70 =…
Q: 3. Don Magellan borrowed today from Ginoong Lapulapu P300,000.00 and agreed to repay the loan with 4…
A: Loan amount (PV) = P300,000 Number of monthly payments (n) = 4 Interest rate = 12% Monthly interest…
Q: You are about to borrow $15,000 from a bank at an interest rate of 8% compounded annually. You are…
A: year opening Balance Total payment Interest Principal Repayment Closing Balance 0 15000…
Q: Mr. Andi bought a machine and agreed to a loan of Rp. 1,000,000.00 which can be paid in installments…
A: a) When the payment is made today for a loan of 1,000,000, the annuity amount to be paid can be…
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A: Interest: It is the amount charged on the loan taken by the lender to the borrower. The interest…
Q: Suppose a customer has to pay a total amount of PhP 20,676 as a payment of a personal loan at the…
A: Solved using Financial Calculator FV = 20,676 N = 3.5 * 4 = 14 I/Y = 4/4 = 1 CPT PV = 17,987.35
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A: We need to use RATE function in excel to calculate interest rate. Formula is =RATE(NPER,-PMT,PV)
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A: The above question deals with the amortization of loan by way of annuity payments and observing the…
Q: A man borrowed Php200000 from his friend and agreed to pay years at an interest rate of 10% per…
A: Loan amount = Php 200000 Interest rate = 10% Future value required (FV) = Loan amount*(1+Interest…
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A: The interest earned on the already earned interest along with the principal amount is the compound…
Q: Mark applied for a business loan of Php 100,000 to be amortized by equal payments at 4 years at 10%…
A: Here, Loan Amount is Php 100,000 Time Period is 4 years Interest Rate is 10% Compounding period is…
Q: Q) You are about to borrow $15,000 from a bank at an interest rate of 8% compounded annually. You…
A: Given data; Loan amount =$ 15,000 rate of interest = 8% Annual repayment = $ 5820.5 Lets calculate…
Q: of 12% per
A: Effective Rate-: The Effective Interest Rate, is simply an effective yearly or interest rate, annual…
Q: tained a loan from the bank worth P 400,000.00 payable within 4 years from the time the loan was…
A: The given problem can be solved using PMT function in excel. PMT function computes installment…
Q: You obtain a loan for ₱ 1,500,000.00 payable in three equal annual installments of ₱50,000.00 each.…
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Q: Senyor Pigafetta borrowed today from Ginoong Lapulapu P300,000.00 and agreed to repay the loan with…
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Q: You are about to borrow $15,000 from a bank at an interest rate of 8% compounded annually. You are…
A: Year 1: Borrowed amount at the beginning of Year 1 = $15000 Note: No intermediate rounding is done,…
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A: Borrowed amount = P 1000 Future value = P 2500 Period = 4 Years Period in months = 4*12 = 48 Monthly…
Q: as a loan. At the end of 2 years he has to pay Rs. 91000 Find the annual simple interest rate that…
A: Simple interest can be calculated as follows :
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A: Loan Amortization Schedule is a schedule made for loan repayment to know about the repayments and…
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A: The present value of the annuity should be used here since the payment is made at regular intervals…
Q: a. How much money will be saved? b. How much will be owed after 2 years?
A: Time value of money (TVM) refers to the method used to measure the amount of money at different…
Q: How much interest is deducted in advance from a loan of P18,000.00 for one year and 6 months if the…
A: Given Information : Amount of loan = P 18,000 Period of loan = 1 year 6 months = 1.5 years Discount…
Q: Mr. Pat Met invested in a bank having an annual payment of Php at a 4% annual interest rate. a. How…
A: Future value of money is amount deposited and the interest accumulated over the period of time of…
Q: -. Castor borrowed today from ChuChu P100,000.00 and agreed to repay the loan with 3 equal monthly…
A: Monthly Payment is calculated using Financial Calculator PV = -100,000 I/Y = 12%/12 = 1% N = 3…
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- You havefound the house of your dreams. The selling price is Php. 175,000.00 with an interest rate of 5.5%ocompounded monthly. Determine the monthly house payment if the loan is for: a) 30 years b) 15 yearsHow many years will the borrower pay a loan if at the end of each month he will pay ₱850.00 to accumulate ₱40,000 if the interest rate is earned at 10% compounded monthly? Show Solution 1.) determine the number of years A.) 2 years B.) 3 years C.) 4 years D.) 5 years3. You wish to purchase a land worth P750,000 and the seller requires 20% downpayment. Then you will loan the balance from a bank that charge 6% annual interest rate to be paid for 1 year. a. How much is the monthly amortization? b. How much is the total interest?
- s) You want to purchase a machine for your business and you are given 3 different payment schedules: Pay Php 1,500,000 in cash, upfront. 1. Pay equal amount of Php 395,000 for 5 years. iii. Immediate cash outlay of Php 195,750 and afterward Php 215,000 per year for 10 years Determine which schedule is least expensive and most expensive if the interest rate is 10.0%, compounded continuously. Answer must be justified by complete solution.3. A man pays 1.5% interest on his loan four times a year. Find the effective annual interest rate. 5. A property has a cash value of P150,000.00. The buyer agreed to pay P30,000.00 cas plus equal yearly payments for 15 years. If the oney is worth 14% to the owner of the property, how much must the buyer pay yearly?PROBLEM SOLVING: A man intends to buy a machine via loan, He does so by depositing a down payment followed by additional monthly payments worth Php 2,000.00 each until the very last month of the period. The entire scheme is projected to cover worth Php 850,000.00 after 5 years. If the interest is 3% compounded quarterly, how much must have been the initial deposit?
- A man borrows Php10,000 from a loan firm. The rate of simple interest is 15%, but the interest is to be deducted from the loan at the time the money is borrowed. At the end of one year he has to pay back Php10,000. What is the actual rate of interest?Answer the following questions correctly and show your Solution.A to C. Juan Dela Cruz wants to invest an amount of Php 36,912.00 for 6 years at an interest rate of 8 ½ % compounded annually a. Find the maturity value (F).b. Find the compound interest c. Ricky borrowed Php 25, 000.00 and paid Php 1, 250.00 for 6 months. What was the rate of interest ?SHOW YOUR STEP-BY-STEP SOLUTIONS. a. A consumer loan worth ₱75,000 is to be repaid in two years at 6% compounded monthly. What is the monthly payment? b. Anne paid ₱13,500 after two years to fully pay his loan that costs ₱10,000. What is the interest rate of the loan if the money is to be compounded quarterly?
- If you are planning to apply for a personal loan and borrow PhP 50,000 and repay the principal and interest for an agreed length of time of 3 years, a. How much monthly payment is needed for each bank offer? b. How much interest would you pay for 3 years for each bank offer? c. Which is the best option for you among the given choices below if you are to pay monthly for 3 years?Suppose you wish to borrow Php 20,000,000 to buy a parcel of real estate. The lender is willing to lend the money at 10% per annum. Amortize the payments annually over 10 years.1.) Mr. Roanito wants to put money in an account that pays 5% interest each year, compounded annually. How much must he deposit in the account today if his aim is to have 5,000 PHP in the account at the end of six years? 2.) If the rate of interest is 5.23 percent compounded weekly, calculate the Present Value of 534PHP that will be returned in fifteen years. 3.) Find the Present Value of a money flow that is 1000 PHP at the end of the first quarter but drops by 50% each quarter for the next 18 months at a 5% compounded monthly interest rate.