Answered: A man borrowed P2,000.00 from his…

A man borrowed P2,000.00 from his friend and agreed to pay the at the end of 6 months. His friend discounted the loan and gave him P1,920.00 in cash.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

100%

Choose the best answer and provide a solution.
From problem 25, what was the rate of interest?

A. 4.17%

B.4.98%

C. 3.98%

D.3.15%

Problem 25:
A man borrowed P2,000.00 from his friend and agreed to pay the at the end of 6 months. His friend discounted the loan and gave him P1,920.00 in cash. What was the rate of discount?

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The following questions relate to simple interest. 2. What is the actual rate of interest if £4000 deposited for 3 years attracts interest of £1440? 3. For how long would £500 have to be left in an account paying 4% interest p.a. to give a balance of £600 ? 4. A school's rich benefactor wants to deposit a certain sum in an account paying interest at 10.5% so that it will produce interest of £1200 per year, to pay for scholarships. How much should she deposit? 5. A boy borrows £1.00 from his sister and promises to pay back £1.10 a week later. What is this as an annual rate of interest? 6. For how long should a depositor leave a sum in a 6.25% p.a. savings account in order to earn the same amount in interest, assuming the interest is withdrawn each year?
Please Provide Answer with calculation
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For 4 – 7. Georgina wanted to borrow P125,000. If the bank offers her 6.5% annual simple interest rate and give her 3 years to repay the amount. 4. What is P125,000 in the given problem? A. Payment 5. How much interest will she pay? A. P2,708.33 6. How much will she pay after 3 years? A. P152,083.33 B. P149,375.00 7. If Georgina wanted to repay her debt for only 1 year, how much must she repay B. Principal C. Future Value D. Interest B. P14,625.00 C. P24,375.00 D. P27,083.33 C. P139,625.00 D. P127,708.33 then? A. P8,125.00 B. P16,250.00 C. P133,125.00 D. P141,125.00
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Suppose you borrowed $25, 000 at a rate of 9.0% and must repay it in 4 equal installments at the end of each of the next 4 years. How large would your payments be? Select the correct answer. a. $7, 703.52 b. $7, 729.92 c. $7, 716.72 d. $7, 736.52 e. $7,723.32
this is a sub-part questions so please do answer. thank you!ps. please do answer atleast 3 questions.
A. You borrowed $10,000 from a bank to invest in IT & Mobile technology with payback the loan in graduated payment plan. If your first payment is $1,000 at the end of first year and i=10% over 5 years. Note: (P/G, 10%, 5) = 6.86 %3D ?What is the G payment $561 $628 $730 $905 Find the total earned interest by the ?bank at the end of period $7,055 $6,100 $5,085 $4,560
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