A man borrows money from a bank but he only received 83% of the amount requested. He signs a promissory note that he would pay P73,330 at the end of 8 years. How much money is requested from the bank if the simple interest rate is 10.211%

Q: I borrowed $3650 from a bank for 8 months. The bank discounted the loan at 7.5%. How much interest…

A: We need to use simple interest formula below to calculate interest or discount on loan.Simple…

Q: What rate offered by bank?

A: To find the PV of future sum, formula used is: PV = FV/(1+r)^n

Q: Bank D gives a loan of RM 30,000 to Shahril with interest rate of 8.25% compounded quarterly.…

A: Compound amount of single sum can be calculated by using this equation A=P(1+r)n Where A= Final…

Q: Juan Pablo borrowed $1500 from a bank for 13 months. The bank discounted the loan at 5.7%. What is…

A: The loan discount refers to the loan in which the borrowers get the money after reducing the…

Q: Michael Perez deposited a total of $3000 with two savings institutions. Bank A pays interest at the…

A: Total amount deposited = $3,000Bank ALet Amount deposited in Bank A be P.Annual interest rate = 6%…

Q: An individual makes 6 annual deposits of P2,000 in a savings account that pays interest rate of 4%…

A: Annual deposit = P 2000 Number of annual deposit = 6 Interest rate for first 8 years = 4% Interest…

Q: John signed a 90-day note with a face value of $6,000 and a discount rate of 14.57%. How much did…

A: Ordinary time means day convention of 360 days. Here, the proceed or amount received from bank is…

Q: Melisandre deposits $500 in an account paying an effective monthly interest rate 0.62708%. Kobe…

A: Present Value:  The present value (PV) is the present sum of the future payments. The future…

Q: Rosa borrowed P32297 from a bank at 11.93% simple interest for 3 years and 6 months. How much did…

A: Simple interest refers to the interest that does not take into account the factors of compounding.…

Q: A person deposits 200.00 riyals at the end of each month for a year in a bank, and it has been found…

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

Q: Suppose Jorge Otero has set up an annuity due with a certain credit union. At the beginning of each…

A: Future value = Present value ( 1 + rate of interest )Period Future value = Amount deposited * Future…

Q: A bank account pays 5.2 % annual interest compounded semiannually. How much money should be…

A: The amount to be deposited today can be calculated with the help of present value function Future…

Q: Ramoncito deposited P15,000.00 today and he deposited the same equal amount each month for the next…

A: The future value of an asset refers to the value of the asset based on an assumed rate of growth and…

Q: 3. Jeff has one savings account with the interest rate of 3.3% in a bank. If he deposits 1200 pesos…

A: Interest is an additional amount which is earned on deposited amount over the period. It is income…

Q: how much money is requested from the bank if the simple interest rate is 9.766% a. 36,857.114 b.…

A: Simple interest refers to the amount paid by the borrower to bank on the amount borrowed at a fixed…

Q: How much will the account contain after 9 years and 3 months? How much interest will be earned?

A: Deposit amount = $600  Interest Rate = 5±70 compounded quarterly i.e 4.3 or 5.7 compounded quarterly…

Q: Tom borrowed money from a credit union for 6 years and was charged simple interest at an annual rate…

A: The loan is the sum of money borrowed by the borrower from the lender, where the borrower agrees to…

Q: Is. Kim borrowed an amount from ne principal at the end of 9 months iscount is 13.73%, what is the…

A: In this we have to find out the future value of amount. Principal amount=P 1340 Discount rate=13.73%…

Q: A borrower has an GH¢8000 loan with the Unicredit Finance Company. The loan is to be repaid over 4…

A: A loan is a borrowed money that represents the present value of all cash flows in that loan…

Q: 7. How much must Brix place in his account at the end of each month in order to have P125,000 at the…

A: Since the given post has multiple questions, only the first question is answered here. If you want…

Q: A man borrowed P 150,000.00 from the bank payable on the 1st day of every month for 2 years. If he…

A: An interest rate is a rate that is the cost of borrowing money.

Q: Mr. Bacani borrowed money from the bank. He received from the bank P1,842 and promised to repay…

A: PRESENT VALUE Present Value is the Current Value of Future Cash Flows at a Discounting Rate.…

Q: Problem 4: What end-of-month deposits for the first six m hould Joshua have if he is planning to…

A: The future value of amount includes the amount being deposited and amount of interest being…

Q: Suppose I secure a simple interest note for $4500.  The length of the note is 102 months and the…

A: Interest = Principal * rate * time  Interest = $4500 * 6.20% * 102 /12 Interest = $2,371.50

Q: A person deposits an amount of 20,000 dinars in a financial institution with compound interest, the…

A: Amount of Deposit = 20,000 Interest Rate (r) =1% Years (n) =12

Q: A3) Finance Ahmad deposits $1,200 in her bank today. If the bank pays 4 percent simple interest, how…

A: Interest is defined as the price that is paid by the borrower for the money borrowed by him or the…

Q: How much money is requested from the bank if the simple interest rate is 12. 987%?

A: Simple interest method is a method of computing interest on borrowed amount where interest is…

Q: er deposits P15,500 each quarter in a savings bank paying 12.5% compounded quarterly. If she desires…

A: Future value of amount include the amount being deposited and interest being accumulated over the…

Q: Q.Mr. Jasim receives a note for $60,000 which is due in 180 days with simple interest rate of 15%.…

A: Amount of note= $60,000 Time to maturity= 180 days Discount rate= 12% Discount charges:…

Q: Ms. Kim borrowed an amount from a bank but she only recieved from the bank P1,340. She promised to…

A: Actual amount received = P 1340 Discount rate = 13.73%

Q: Jamila wants to deposit OMR 5000 in a bank fixed deposit for 8 years. She has the following bank…

A: Investments are the crucial methods through which individuals and companies invest or park their…

Q: You borrowed Rs.500, 000 at 18% for five years.If you decided to settle this loan after two years,…

A: To calculate future value: FV=P1+rnFV=Future valueP=Present valuer=rate of returnn=number of time