A loan of R30 000 is secured at an interest rate of 25% p.a. (cq) and will be paid back with monthly payments over a period of 5 years. Calculate the monthly payments. Answer the question by completing the answer boxes below: Value of N: Value of Monthly payment (round your answer to 2 decimal places): R

Q: Define Interest receivable.

A: Introduction: Interest Receivable is an amount which has been earned by the person but the same has…

Q: What is the rela1ionship between Annual  Percentage Rate and the interest period?

A: Answer: Annual percentage rate represents the interest rate which also takes additional payments…

Q: What are the most frequent uses of contingent payments?

A: A contingent payment is a mechanism used in M&A whereby, in addition to an upfront payment,…

Q: what is an annuity? Provide an example

A: Annuity is an important concept in finance especially in the context of time value of money. Annuity…

Q: How to find the incrementa

A: Incremental cost is an additonal cost which a manufacturer incurs due…

Q: What is Annual-payments option?

A: The annual payment option is the obligation to pay the amount to the receiver annual instead of the…

Q: What is growing annuity?

A: Introduction: Annuities are insurance contracts that agrees to pay you steady income either…

Q: How to calculate the notes payable

A: Notes payable are long-term liabilities that indicate the money a company owes its financiers—banks…

Q: Develop various interest formulas for the credit calculations?

A: The interest on interest computation figures the formula of compound interest on the loaned or…

Q: Explain the difference between an ordinary annuity and an annuity due.

A:

Q: find the average daily balance

A: The method which takes daily balances into consideration rather than weekly or monthly balances is…

Q: How can we determine the amount of a periodic payment?

A: The amount of periodic payment is determined using the following formula:

Q: Monthly interest rate?

A: Monthly interest rate is the interest charged on the unpaid balance of credit card.

Q: The dollar-euro exchange rate is USD 1.25 = EUR 1, and the dollar-yen exchange rate is JPY 100 = USD…

A: Cross rate for Euro Yen  = USD/EUR * JPY/USD

Q: For VAT and Percentage transactions, state when will be the deadline for the remittances

A: VAT is value added tax and it is indirect tax which means tax is paid by consumer of goods or…

Q: Explain the difference between an ordinary annuity and an annuity due situation.

A: Annuity: It is amount of money payable to an individual at a periodic basis which is normally a…

Q: What is future value of annuity, FVA?

A: The concept that helps to evaluate the future or present value of the cash flow is term as the time…