Given: P= Php 450, 500. 50 r= 3 %% t= October 20, 2003 - February 10, 2004 Solve for: _1. Approximate Number of Days _2. Actual Number of Days 3. Ordinary Interest, using Actual Number of Days _4. Ordinary Interest, using Approximate Number of Days 5. Exact Interest, using Actual Number of Days _6. Exact Interest, using Approximate Number of Days

Q: Practice Find the amount in the account and the interest. Amount Annual First Second Interest…

A: Missing values in the table can be computed using the following formulas:First period interest =…

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A: Net Present Value=(Present Value of Cash Inflows-Present Value of Cash Outflows) IRR is a rate at…

Q: The annual force of interest for an account at t years is given by St = t^2/ (4+1)^3. A deposit of…

A: - Force of interest at time : - Initial Deposit: - Final Account Balance: - Goal: Find the number of…

Q: 200 ann Wha

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Q: What rate of interest did you earn for a period of 2417 days if you invested $175 and you earned…

A: The correct answer is: (D) 19.16%  To calculate the rate of interest, you can use the formula Rate =…

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A: Simple interest is based on the principal amount of borrowing or investment, it is not calculated on…

Q: Exercise 5-7 (Algo) Solving for unknowns; single amounts [LO5-4] For each of the following…

A: Present value (PV) is a financial concept representing the current worth of a future sum of money,…

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A: S = C(1 + (J/m))^(mn)s = Future Valuec = capital or Present Valuej = Interest ratem = compound n =…

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A: Accrued interest can be referred to as the amount of interest that is earned or due on the notes of…

Q: 3. * Assuming 365 days in a financial year answe (a) Find the discounted value of $500 due in 8 (b)…

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Q: Calculate the exact interest: P=2000, r = 6.75%, t = 114 days Select the correct response: O 45.16 O…

A: The exact interest amount can be calculated with the help of simple interest equation

Q: po... D2L. Homepage - South... Account Home Hilton M. Briggs Lib... oter 4 i Saved Help Save & Exit…

A: Step 1:1). FV = PV * (1 + r)n= $17,250 * (1 + 0.07)11 * (1 + 0.11)11= $17,250 * 2.104851952 *…

Q: Calculate 3X12 FRA. 90 days rate 2.50% p.a., 180 days rate 3.00% p.a270 days rate 3.50 % , 360 days…

A: Part 2: ExplanationStep 1: Calculate Sharpe RatiosThe Sharpe ratio is calculated as (expected return…

Q: Find the exact simple interest on P 1, 000.00 which was deposited on January 8, 1990 and to be…

A: Given: Principal = P1,000 Interest rate = 10% Date of deposit = January 8, 1990 date of withdraw =…

Q: #5: Interest Payable, beg. 35,000.00; Interest Payable, end 15,000.00; Interest Expense, 75,000.00.…

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A: Principal = $685 Rate of interest = 4% Simple Interest mount = $137 Time period = ?

Q: Am. 106.

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A:

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A: Simple interest = principal *rate*Time /100

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A: PV stands for present value of money. It means the present value of the money which will be received…

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A: Compound interest is the addition of interest to the principal sum of a loan or deposit, or interest…

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Q: $5328 at 8% loan made on August 16 and due December 30. Find the interest

A: Simple Interest=P×r×twhere:P is the principal amount (the initial loan amount),r is the interest…

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A: Formula of Simple Interest Rate is as follows: Simple Interest = Principal ×Rate×TimeAmount =…

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Q: P= $140 R= 3% T= 2 Year Find the simple interest owed for the use of the money. Assume 360 days in a…

A: P = $140 R = 3% T = 2 Year

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Q: What amount was invested at 3% if it earned an interest of P2,300 in 2 years and 3 months? A)…

A: Simple Interest, SI = P2,300 Rate, R= 3%  Time, T = 2 years 3 months = 2 years and 0.25 years = 2.25…

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.