A business loan of P1,000,000 is to be repaid in full after 5 years. What is the amount to be paid if the effective rate of interest is 10% a. 1,150,165 b. 1,165,000 c. 1,165,526 d. 1,610,510
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A business loan of P1,000,000 is to be repaid in full after 5 years. What is the amount to be paid if the effective rate of interest is 10%
a. 1,150,165
b. 1,165,000
c. 1,165,526
d. 1,610,510
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Solved in 3 steps
- A LOAN OF P80,000 IS MADE FOR A PERIOD OF 18 MONTHS AT A SIMPLE INTEREST RATE OF 10%. WHAT FUTURE AMOUNT IS DUE AT THE END OF THE LOAN PERIOD? O a P92,100.00 O b. P92,020.00 O c. P92,000.00 O d. P93,000.00A LOAN OF P80,000 IS MADE FOR A PERIOD OF 18 MONTHS AT A SIMPLE INTEREST RATE OF 10%. WHAT DUE AT THE END OF THE LOAN PERIOD? O a. P92,100.00 O b. P93,000.00 O c. P92,020.00 O d. P92,000.00An amount of P14,000 is borrowed at a discount rate of 10%, find the proceeds if the length of the loan is 180 days. a. P13,300 b. P13,000 c.P12,600 d. P12,200
- Q7. The annual payment of a lorry is 40,000 Euro find out the loan amount which is granted for 4 years and the interest rate is 8%, prepare an amortization table for this loan (5 marks)5.15(a) A loan of $20,000 is to be amortized in 10 level annual payments. The interest rate for the first 3 years is 4% while the interest rate for the subsequent 7 years is 6%. Calculate the loan balance B6 by; (a) the prospective methodA bank makes an amortizing loan of $200,000 with a maturity of 8 years and equal payments every year. What is the principal outstanding at the end of year 6 if the interest rate is 6%? A $27,041.78 B $30,384.41 C $59,048.42 D $86,092.20
- What is the discount interest rate if P129,750 was obtained after a loan of P150,000 was granted for 1 year and 6 months? O 9% 13.5% 57.6% O 10.8%What is the annual interest rate if a simple interest loan of $10,000 for 4 years charges a total of $2,800 interest? The loan is repaid with a single payment at the end of year 4 Select one: а. 28% b. 7% c. i such that 12800= 10000(F/Pi,4) d. cannot be determined from the information givenA loan of X is repaid with level payments of R payable at the end of each year for n years. You are given: (i) The interest paid in year 1 is 797.50. (ii) The principal repaid in year n-4 is 865. (iii) The principal outstanding at the end of year n-1 is 1,144.50. Determine X. A B с D E 9,500 10,000 10,500 11,000 11,500
- Suppose that you borrow$ 12000 at interest rate of 5% per year. If you must be repaid the loan in equal end of year payments over the next 4 years, how much must you repay at the end of each year? O a. $3672 Ob. $3384 Oc. $2672 O d. $2384What is the annual interest rate if a simple interest loan of $10,000 for 4 years charges a total of $2,800 interest? The loan is repaid with a single payment at the end of year 4 Select one: a. i such that 12800= 10000(F/P,i,4) b. 7% 3 c. 28% d. cannot be determined from the information givenFRM. (Term=30 years, Note Rate = 5.25, Loan Amount = 800,000, Points=2) What is the FTL annual percentage rate (FTLAPR) that the lender must disclose to the borrower? O 5.375% ○ 4.750% O 4.875% O 7.000% O 6.905% O 7.011%
