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- Your father obtained a car loan for ₱800,000 with an annual rate of 15% for 5 years. Direction: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for the scenario above using a simple interest assumption and compound interest assumption.Mr.steinbeck obtained a car loan for 800.000 with an annual rate of 15%for five years. how much will he pay after 5 yearsJohnny deposits ₱45,000 in the Trust Savings Bank which pays 6% compounded monthly. How much will he have at the end of 3 years and 5 months.
- Eva obtained a loan of 50,000 pesos for the tuition fee of her son. She has to repay the loan by equal payments at the end of every six months for 3 years at 10% compounded semi-annually. Find the periodic payment.Jasper purchased a car for 47,500. He paid a 20% down payment and financed the rest at 2.88 % for 6 years. Find the amount of down payment the monthly payment and the total interest jasper will have paid at the end of his loan.You owe $32,000 to your parents for funding some of your college fees. You promise to make 5 annual payments of $8,200 to settle your debt. Approximately what interest rate are your parents charging, if you make the 5 annual payments beginning one year from now?
- Your sister placed her graduation gifts amounting to ₱25,000 in a special savings account that provides an interest of 2% for 8 months. Direction: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for this scenario below using a simple interest assumption and compound interest assumption.Mr. Joe pays $2068 a month for the loan he took from a bank. If the total payment period is 3 years and the interest rate is 29% per year compounded monthly. Determine the amount of loan Mr Joe took?Billy borrowed an amount of money from Kat. He agrees to pay the principal plus interest by paying ₱38,973.76 each year for 3 years. How much money did he borrow if interest is 8% compounded quarterly?
- Bob purchases a car for $28,000. He makes $640 a month payments for 36 months on a 6.9% interest loan. What is his balloon payment?Mr. Canlapan deposited his money from selling his old vehicle. The fund would allow him to withdraw 45,000 pesos semi-annually for 5 years starting at the end of 1 year. How much is the amount deposited if the interest rate is 2% converted semi-annually?Maria wants to have ₱750,000.00 at the end of 4 years for her graduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly. 1.) Which of the following refers to the monthly rate? * a.) 12% b.) 0.0125% c.) 15% d.) 1.25% 2.) Which of the following refers to the total number of deposits? * a.) 12 b.) 60 c.) 5 d.) 48
