a contractor brought a luxury service car worth 4.5 million pesos. the paying scheme is as follows. down payment of 10% and balance is payable within the four (4) year period. annual interest rate is 14%. paying continuously uniform payment (monthly) for 2 years and a hald (2 1/2 years) this contractor decided to pay the balance in lump sum. how much this balance was

Q: Lush Gardens Co. bought a new truck for $68,000. It paid $6,800 of this amount as a down payment and…

A: Here, Particulars Values Price of new truck  $ 68,000.00 Down payment  $6,800.00 Loan…

Q: Suppose you paid 5900 pesos as a down payment on a MIO SPORTY motorcycle. The remaining balance is…

A: Answer: Calculation of the future value: Step 1: Calculation of the future value of 5900 pesos:…

Q: A house is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every…

A: Price of house $1,00,000         Less: Down payment  $30,000         Loan Amount $70,000…

Q: An auto repair shop borrowed $15,000 to be repaid by semi-annual payments over 8 years. Interest on…

A: Interest rate (i): 12% per year, compounded semi-annually, so it's 6% per period.Number of periods…

Q: SH Enterprises needs to borrow to finance a project. No payments are to be made during the…

A: The periodic payment is made to repay a loan or debt. The periodic payment may be made at the end of…

Q: Lush Gardens Co. bought a new truck for $54,000. It paid $5,400 of this amount as a down payment and…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: The cost of the book is P1,000,000 which will amortized for 3 years monthly but he will start paying…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: the tax office allow industrail vehicles to be depreciated at 7.5% every 6 month. what will be the…

A: Depreciation is the loss of value to an asset due to normal war and tear or due to obsolescence.…

Q: A machine is bought with a loan which must be repaid in 20 equal half-yearly instalments of R6 500.…

A: Present value is commonly used in various financial calculations, such as determining the fair value…

Q: A service car whose cash price was P 542,488 was bought with a down payment of P 172000 and monthly…

A: Here basically a loan was taken to pay for the car. We have been provided with the price of the car,…

Q: An electric motor has a cash price of Php 8000. It can also be bought on installment basis with down…

A: Lease Installment is that amount which is paid by the lessor to lessee at fix time period. It…

Q: 2. A man bought an equipment consisting Php 60,000 payable in 12 quarterly payment, each installment…

A: Cash price (PV) = P 60,000 Number of quarterly payments (n) = 12 Interest rate = 24% Quarterly…

Q: A service car whose cash price was P540,000 was bought with a downpayment of P162,000 and monthly of…

A: Cash price of car= P540,000  Down payment= P162,000 Monthly payment= P10,874.29 for 5 years Rate of…

Q: A car is available for Rs. 402200 cash or Rs. 150000 cash down payment and 3 equal half yearly…

A: As per the given information: The cash price of Car = Rs. 4,02,200 Cash Down Payment = Rs. 150,000…

Q: 2. A sports car, purchased for £200,000, is financed for six years at an annual rate of 6%…

A: M=P×r × (1+r)^ n/(1+r) ^n-1Where:M is the monthly payment,P is the principal amount (initial loan…

Q: An installment contract for the purchase of a car requires payments of $263.53 at the end of each…

A: Monthly payment (M) = $263.53 n = 6 years = 72 payments r = 9% per annum = 0.75% per month

Q: An equipment which costs ₱ 40,000 is to be purchased through a series of 10 semi-annual payments in…

A: When we buy an asset and pay for it in the form of instalments then each instalment will have a…

Q: A brand new pick-up truck was bought for P420,000.00 down payment and monthly installments of…

A: Answer- correct Option is b) P 729,940.50.

Q: Identify the period of deferral in each of the following Deferred Annuities 1.Withdrawals of 7,200…

A: A delayed annuity is an agreement with an insurance company to pay the owner a regular income or a…

Q: Semi-annual payment of the loan 800,00 pesos for 5 years with an interest rate of 9% compounded…

A:

Q: 3. A man bought an equipment costing P60,000 payable in 12 quarterly payments each installment…

A: The periodic worth concept determines the monthly, quarterly, or other periodical values of the cash…

Q: One agency offered a customer a new car for a down payment of $ 35,200.00 and 60 biweekly payments…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: A contractor took out a loan from a certain bank in an amount that could be repaid over four years…

A: Loans are paid by the annual payments that carry the payment for interest and payment for loan also.

Q: a. How many payments are required to settle the loan? _________payments b. Fill in the partial…

A: Loan is financial agreement where a person (lender) lends lump-sum money to other person (borrower)…

Q: company makes payments of $1,600 at the end of every month, how long will it take to settle the…

A: Loan: It is the amount of credit taken by the borrower for a period from the lender. The lender…

Q: Ten thousand pesos (Php 10,000) is placed in a time deposit at the end of each year for 9 years.…

A: Time has been precious in all perspectives, however in terms of finance, time has a monetary value.…

Q: On 1 January 2002, Rs 500,000 was borrowed by Mr Needy from a bank for a period of 10 years at a…

A: Annual payments for the borrowed money is the amount that the borrower will pay annually to the…

Q: A design studio received a loan of $5,850 at 4.40 % compounded semi-annually to purchase a camera.…

A: Amortization Schedule   Beginning Balance Interest Principal Ending Balance 1 $5,850.00 $64.00…

Q: A building is priced at $250,000. If a down payment of $25,000 is made and a payment of $5000 every…

A: The time value of money (TVM) is a financial concept that recognizes the idea that a sum of money…

Q: 3. Rasid buys a house for RM185,000. He pays a 10% down payment and the balance is borrowed from a…

A: Time value of money (TVM) refers to the concept which proves that the value of money today is higher…

Q: Lush Gardens Co. bought a new truck for $50,000. It paid $5,500 of this amount as a down payment and…

A: When the borrower borrows a loan from the borrower, he has to pay a rate of interest on the borrowed…

Q: (a) How many payments are needed to repay the debt? (b) What is the size of the final payment?

A: First we need to determine the equivalent interest rate as the compounding rate and period are…

Q: A building is to be paid indefinitely at the rate of 6%. The building's price is P1M if paid in…

A: SOLUTION- Compounding is done by the lenders when they provide interest on amount which includes…

Q: Identify the periodic payments. 1. Quarterly payment of an accumulated amount of 80,000 pesos for 2…

A: Here, Accumulated Amount is 80,000 pesos Interest Rate is 8% Compounding Period is Annual Payment…

Q: A man paid a 10% downpayment of P 200,000 for a house and lot and agreed to pay the balance on…

A: Monthly Installment: an installment loan in which payments are paid at predetermined intervals; the…

Q: A gasoline engine is available on instalment basis with a down payment of ₱ 11,100 and ₱ 18,070 at…

A: Down payment (D) = P 11100 Monthly payment (M) = P 18070 n = 12 payments r = 6.4% per annum =…

Q: Find the cost if the project is paid full before it starts.

A: Present value illustrates the current value of a sum of money that will be received or paid in the…

Q: A person borrowed $9,500 to landscape his yard. The 250-day note had an interest rate of 10%…

A: As per the given information: Amount borrowed - $9,500Period of note - 250-day noteInterest rate -…

Calculating the Return On A Loan