A house and lot are worth ₱4.3 million in cash. A buyer pays a 40% down payment and agrees to pay the balance by equal payments at the end of each month for 10 years at the rate of 9% compounded monthly. How much will be the monthly payment

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:…

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A: Annuity: A contract between you and another party known as an annuity obligates the borrower to pay…

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A: House cost (C) = P 2900000 Total payments (n) = 10  r = 8% Let the annual payment = A

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A: EMI or monthly mortgage payments are the fixed amount paid by the borrower to the lender that…

Q: a. Kim pays ₱2,000 every two months to settle his obligation for two years at 8% compounded…

A: a. The present value can be calculated using the PV Function.  b. The monthly payment can be…

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Q: Suppose you are a beneficiary designated to immediately receive ₱9201 each year for 7 years, earning…

A: in the given question the first payment will be received today. therefore, future value can be…

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

Q: A man purchases a lot worth 5M if paid in cash. On installment basis, he paid P800,000 down payment,…

A: Data given: Lot worth = P 5M = P 5000000 Down payment = P800,000 Loan amount = P 5000000 - P 800,000…

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A: Interest: it is a finance cost that charged on borrowed value for specific period.

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A: Using the scientific calculator, we can calculate the NPV of the cash flows.  Enter the value as…

Q: A PAG-IBIG house and lot cost P1M. If I pay a down payment of 10K, Determine the monthly payment for…

A: Using excel PMT function

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A: Here we will have to find the future value of the annuity at the end of the 3rd year and then…

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A: Payback period is the number of years an investment will take recoup the initial investment.

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A: Given: Particulars Amount Installment (PMT) 950 Number of periods(NPER) 25 Rate 5.60%

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

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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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Q: In buying a farm worth P 300,000, the purchaser agrees to pay a down payment of P 80,000 and a…

A: Data given: Cost= P 300,000 Down payment= P 80,000 Second payment at the end of 2 years= P 60,000…

Q: Akbar has borrowed $48,000 today and agreed to repay it in 5 years with monthly payments at the…

A: Given information: Amount borrowed is $48,000 Interest rate is 2.60% Number of years is 5 years

Q: A woman paid 20% down payment of P300,000 for a house and lot and agreed to pay the balance on…

A: given, price = p300,000 downpayment = 20% r=15% m=12 (monthly compounding) pmt = p 33,396.51

Q: a certain loan was arranged such that Dino will pay ₱5,500 every month for the first 7 months; no…

A: Present value, usually referred to as discounted value, seems to be a financial computation that…

Q: A salesman earns P2,500 on the 1st month, P2,800 on the 2nd month, P3,100 on the 3rd month and so…

A: Since you have posted a multiple question then we will be solving the first question only as per the…

Q: has been bought by an individual. -annually, eight times a year for 1 payment. If the payment is to…

A: In this we have to calculate the interest rate for period and find out future value.

Q: A house costs $139,000. It is to be paid off in exactly ten years, with monthly payments of…

A: House cost = $139,000Monthly payment = $1,599.62Number of years = 10 years

Q: In return for payment of P5000 at the end of 4 years and P8500 at the end of 9 years, a man agrees…

A: Earlier Cash flow: Payment of P5000 at the end of 4th year Payment of P8500 at the end of 9th year…

Q: Lucy had an agreement to settle a loan by making payments of $3,000 in 12 months, and $2,400 in 5…

A: We will use the equation of time value of money to solve the question. According to the concept of…

Q: Iris expects to receive $1,000 at the end of each of the next three years. She will deposit these…

A: Payments = 1000 Semi Annual Compounding, Time Period = 3 years * 2 = 6 semi annual periods Interest…

Q: A man pays 1.5% interest on his loan four times a year. Find the effective annual interest rate. 5.…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

Q: A man purchases a lot worth 5M if paid in cash. On installment basis, he paid P800,000 down payment,…

A: Cost = P5,000,000 Down payment = P800,000 Payment at year end = P900,000 Payment at third year end =…

Q: will we owe more or less than $200,000 (half the original loan amount)?

A: Loan Amount: It represents the credit taken by the borrower from the lender. The borrower makes…