Answer the following simple interest problem using the provided formula ONLY. Show your complete solution.  Simple Interest   1. If a man borrowed money from his girlfriend with simple interest rate of 12%, determine the present worth of 74, 900.00 pesos, which due at the end of seven months

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A: The worth of an asset at a future date is called future value. It is the present value multiplied by…

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A: Present value is the value of investment in todays dollar.  Future value is the value of investment…

Q: 10. What is the annual interest rate on a 1000 dollars loan in which all interest is paid at the end…

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A: Here we are given the cash flow. And using the formulas mentioned below of annuity and present value…

Q: 1. Find the present value in year 1 and the future value in year 10 for the following cash flow (i=…

A: The definition of present value states that a dollar sum today is worth more than a dollar amount in…

Q: At what simple interest rate must ₱100,000 be invested so as to gain an interest of ₱10,000 after 5…

A: We have given that  Total simple interest after 5 years =10,000 Deposited amount or principal amount…

Q: uppose that you start a savings plan by depositing Php. 1,350 at the beginning of every year into an…

A: Given: Deposit=Php 1350 Interest rate=9% Time=4 years To find:  accumulated after four years

Q: Given an interest rate of 12%, how much does one need to invest today to acquire 5,000 pesos…

A: Given information, Interest rate (i): 12% Annual income (A): 5,000 pesos Time period (N): 20 years…

Q: John Doe received the following information in a mailed advertisement: "You could borrow $4,400 for…

A: here by calculating the effective interest we conclude the better opportunity which are as follow-

Q: To make CDs look more attractive as an investment than they really are, some banks advertise that…

A: Simple interest computes interest based only on the initial amount borrowed or invested, while…

Q: How much would is needed today to provide a monthly amount of $1,000 (each month) for 2 years, at…

A: In the given case, we have an annuity that pays periodic payments of $1000 with a 10% annual…

Q: 2. 3. purchase! You borrow $80,000 at 5.00% per year and will pay off the loan in equal payments…

A: The majority of times when taking out a loan for personal use, equal payments will be made either…

Q: Find the amount at the end of 2 years and 7 months if 425,000 pesos is invested at 8% compounded…

A: Given Information: Amount of Investment (P) =425000 pesos Interest rate = 8% compounded quarterly…

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A: Equivalence Monthly Installments or EMI is defined as a method used to repay a loan with easy…

Q: Maria invested 20,000 Pesos in a savings account 10 years later she withdrew all her savings…

A: Compound interest is the interest on a loan or deposit calculated based on both the initial…

Q: Assume that $150 invested a year ago will return $170 a year from now. What is the annual interest…

A: Present value(PV) is that value of an amount(A) of money that is worth today. It is less than the…

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Q: Rose recently graduated in engineering. Her employer will give her a raise of $6500 per year if she…

A: * SOLUTION :-

Q: (1 point) A sum of $9500 is invested for the months of June and July at 7,8% simple interest. Find…

A: Principle(P)=$9500 r=7.8% Time=Months of june and july Days in June=30 Days in July=31 Time =31 days…

Q: ₱6,000 is borrowed for 85 days at 15% per annum simple interest. How much will be due at the end of…

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A: The compounded bimonthly means that the borrower will be required to make the payments every two…

Q: Toni received a loan of $200,000 at 10% interest. The interest was deducted from the loan at the…

A: SI=P*R*T/100 where, P-Principal R-rate of interest T-time

Q: Liam borrowed money from a bank worth P15,000.00 on January 11, 2020. They agreed on a simple…

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A: In economics, present value refers to the current value of a future stream of cash flow. Future…

Q: At what simple interest rate: a) Will $20,000.00 rise to $21,100.00 in one year? b) Will $720,000.00…

A: We have given  (a) Present value of money P= $20,000.00 Future value F= 21,100.00 and time = 1 year…

Q: What lump sum of money must be deposited in a bank account at present time so that Php 500 per…

A: Given: Monthly withdrawal amount=Php 500 Number of years=5 First withdrawal scheduled= 6 years from…

Q: What is the amount of 10 equal annual deposits that can provide five annual withdrawals, when a…

A: Annual Withdrawal = 29263 started from end of 11 year withdrawal increase by 10% annually r = 10%

Q: Please show work

A: suppose, the deposit in the account will be $5,000. Additional deposit is $4,000. Interest rate is…

Q: A rich donor gives a hospital $950,000 one year from today. Each year after that, the hospital will…

A: Payment made at the end of year 1 = 950000 $ Time = 10 years interest rate = 10 % Increase in…

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A: Rule of 144 The final rule in line is the rule of 144. As evident, this rule tells how long will it…

Q: 1. Jessica buys a television set from a merchant who asks P14,000.00 at the end of 80 days. She…

A: "Since you have asked multiple question ,we will solve first question for you.If you want any…

Q: 2) An annuity has an effective interest rate of j = 2% per period for the first 30 periods, then has…

A: Given  Effective interest rate (i) from the first period to the 30th period = 2% Effective interest…

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A: Effective annual rate (EAR) refers to a real interest rate that an investor wants from his…

Q: A 20 year loan of $120, 000 at i = 6% is paid off by paying 130% of each year's interest at the end…

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