Cassie paid P68 000 to a money lending company after one and a half years to fulfill er loan that costs P60 000. What is the interest rate compounded quarterly that is narged to the loan?
Q: In one instance, a financial institution loaned you $20,000 for two years at an apr of 4.75% for…
A: Interest refers to the cost of borrowing money from the lender.
Q: If I loaned 163,085 today and promised to pay it back after 5 years to the bank with monthly…
A: Loan amount (P) = 163,085 Annual interest rate = 0.11 Monthly interest rate (r) = 0.11/12 =…
Q: A man borrowed P12,000 and agreed to repay it with P4,650.70 interest. If the interest is 6%…
A: Borrowed amount (PV) = P12000 Interest amount = P4650.70 Future value (FV) = 12000+4650.70 =…
Q: How much would she pay per month if she is to repay the loan in two years
A: We can determine the monthly payment by using the formula below:In the formula above r = monthly…
Q: As debt payment, P315,000 is due in 4 years and 7 months. If the debtor wishes to repay the debt…
A: Future value refers to the amount to be paid or received on a future date. The future value takes…
Q: Carlo paid P 13,500 after two years to fully pay his loan that costs P 10,000. What is the interest…
A: Loan to be repaid on maturity = C* ( 1+i)n Where C is the amount of loan borrowed i is the periodic…
Q: Safewell Co obtains a discount loan at a 12 percent interest rate. Safewell borrows $100,000 for…
A: Effective interest rate if the amount of interest rate which is charged on the principal amount…
Q: Rosel applied for a cash loan with an amount of P100,000.00 to be paid using ordinary simple…
A: Loan amount (L) = P 100000 Simple interest rate (r) = 6.5% n = 2 years 5 months = 29 months
Q: You borrow $1,000 from the bank and agree to repay the loan over the next year in 12 equal monthly…
A: We can calculate the effective annual interest rate by applying the required formula taking the loan…
Q: Ruth borrowed P200,000.00 with 20% simple interest rate from ABC bank. At the time the money was…
A:
Q: You borrow $1,000 from the bank and agree to repay the loan over the next year in 12 equal…
A: The Present Value of Ordinary Annuity refers to the concept which gives out the discounted or…
Q: A businessman wants to borrow P1,000,000 from a bank that charges a rate of interest of 12%…
A: The given problem can be solved using PMT formula in excel. PMT formula computes payment /…
Q: Suppose a customer has to pay a total amount of PhP 20,676 as a payment of a personal loan at the…
A: Solved using Financial Calculator FV = 20,676 N = 3.5 * 4 = 14 I/Y = 4/4 = 1 CPT PV = 17,987.35
Q: A borrower had a loan of $7800 at 5.6% compounded semiannually, with 20 semiannual payments. Suppose…
A: We have; The loan amount is $7800 The interest rate is 5.6% compounded semiannually Total m=number…
Q: 1. Mary made a loan of P58,000 to supply her new business. It is to be amortized by ten equal…
A: We need to use RATE function in excel to calculate interest rate. Formula is =RATE(NPER,-PMT,PV)
Q: A student loan with a simple annual interest rate of 2.5% must be paid back in ten years. A student…
A: Given data, Interest rate(r)=2.5% or 0.025 per annum Total interest(I)=P2,000 Time(t)=10 years
Q: as a loan. At the end of 2 years he has to pay Rs. 91000 Find the annual simple interest rate that…
A: Simple interest can be calculated as follows :
Q: A man borrows Php10,000 from a loan firm. The rate of simple interest is 15%, but the interest is to…
A: Actual interest rate here will be calculated by dividing interest by net amount received. Actual…
Q: A person borrowed a loan and pledged to repay it and its interest using the amortization method, out…
A: The present value of the annuity should be used here since the payment is made at regular intervals…
Q: What is the simple interest rate if Rogine paid an interest of P2,100 after 2 years and 6 months on…
A: A method of computing interest amounts in which the compounding effect was not considered by the…
Q: A person borrows $15,000 at an interest rate of 6%, compounded monthly, to be paid with payments of…
A: A concept through which it is studied that the current worth of money is higher than its future…
Q: A woman borrowed P3,000 to be paid after 1.5 years with interest at 12% compounded seminually and…
A: Borrowed amount = P3,000 Time period = 1.5 years Interest rate = 12% that compounded semiannually…
Q: If I loaned 167,871 today and promised to pay it back after 5 years to the bank with monthly…
A: N = 5*12 FV = 0 rate = 14%/12 PV = 167,871 use PMT function in Excel with type as 1
Q: How much interest is deducted in advance from a loan of P18,000.00 for one year and 6 months if the…
A: Given Information : Amount of loan = P 18,000 Period of loan = 1 year 6 months = 1.5 years Discount…
Q: Suppose you take on a loan that is subject to an annual interest rate of 12%, with the interest rate…
A: present value=future value1+rate of interestfrequency of compoundingyear×frequency
Q: Mr. Sy borrowed money from a bank with an inferest of 6% compounded monthly for 10 years. His…
A: 6. Calculate the interest rate per conversion period by dividing the annual interest rate which is…
Q: A loan of $8000 made at 6% compounded monthly amortized over five years by making equal monthly…
A: Loans are paid by equal and fixed payments that carry the payment for interest and payment for loan…
Q: If a consumer borrows a loan of $23, 000, and pay it off in 5 years, including the finance charges…
A: Initial Value = Amount borrowed = $23,000Final Value = Amount Paid = Amount Borrowed + Finance…
Q: If you borrow $1700 and agree to repay the loan in sux equal annual payments at an interest rate of…
A: Computation: Hence, the repayment amount is $401.84 per annum.
Q: 1. Erika Joy borrowed P7,777.00 to be paid after 2.5 years with interest at 15% compounded…
A: Time value of money (TVM) refers to the method used to measure the amount of money at different…
Step by step
Solved in 2 steps with 2 images
- (c) Alata Kwaku borrowed ¢2,130 from his uncle and promised to pay him ¢2,720 after 2 years. With annual compounding, find the implied annual rate of interest for this loan.(d) Oberima Adonteng’s bank account pays 8.8% annual interest, compounded monthly. If the present value is ¢2, its future value is ¢4. How long will it take the money to double in the account?4. Suppose $5,000 is deposited in a savings and loan account that pays 5.5% interest compounded semiannually. Use compound interest to calculate the following:a. How much money will be saved?b. How much will be owed after 2 years?Mr. Sy borrowed money from a bank with an interest of 6% compounded monthly for 10 years. His monthly amortization is P20, 000. 6. What is the total interest rate per conversion period? C. 0.0075 A. 0.005 B. 0.006 D. 0.06 7. What is the total number of period of time to fully paid the loan? А. 100 B. 120 C. 160 D. P 240 8. After 80th payment, what is the total number of payments remain? В. 30 C. 40 9. What is the total number of payment of Mr. Sy after he paid the 10-year mortgage? C. P2, 148,919.34 D. P2, 400, 000 A. 20 D. 120 A. P1, 899, 600.14 B. P2, 026,802.24 10. How much is his outstanding balance after the 80th payment? C. P704, 564. 56 D. P723, 444. 56 A. P690, 444. 56 В. Р683, 134. 56
- A person borrowed a loan and pledged to repay it and its interest using the amortization method, out of the loan principal with interest in four installments. Each installment is paid at the end of every six months. If you know that the interest rate is 5% annually and that the first installment of the principal amount and its interest is 840 dinars, so the value of the loan amount is??A - 3200 dinarsB - 3600 dinarsc 4000 dinarsD - 4500 dinars.How much interest is deducted in advance from a loan of P18,000.00 for one year and 6 months if the discount rate is 9%. How much is the proceeds after deducting the interest?What is the simple interest rate if Rogine paid an interest of P2,100 after 2 years and 6 months on a P12,000 loan?
- 9. A man borrows Php10,000 from a loan firm. The rate of simple interest is 15%, but the interest is to be deducted from the loan at the time the money is borrowed. At the end of one year he has to pay back Php10,000. What is the actual rate of interest?1. An employee obtained a loan of P 10,000 at the rate of 6% compounded annually in order to build a house. How much must he pay monthly to amortize a loan within a period of 10 years? 2. How much money would you have to deposit for 5 consecutive years starting one year from now if you want to be able to withdraw P 50,000 ten years from now? Assume the interest is 14% compounded annually. 3. A certain annuity pays P 80 at the end of every 3 months for 12 years. If the present value of the annuity is P 1,200 and the accumulated amount is P 2,000 determine the nominal rate. 4. An annual deposit of P 1,270 is placed on the fund at the end of each year for 6 years. If the fund invested has a rate of interest of 5% compounded annually. How|| much is the worth of this fund at the end of 9 years? 5. A man owes P 10,000 with interest at 6% payable semi-annually. What equal payments at the beginning of each 6 months for 8 years will discharge his debt? 6. A farmer bought a tractor costing P…Mr. Cruz borrowed P100,000 from BPI at a stated rate of 6% payable over a period of one-year. What is the effective interest rate if the loan is discounted?
- show the proper solution for this problemA person receives RS. 65000 as a loan. At the end of 2 years he has to pay Rs. 91000 Find the annual simple interest rate that charged for the loan in Rs.1. A friend borrows an amount of P1,000. In 4 years, the money become P2,500 compounded monthly. Find the nominal interest rate.