Grace borrowed P150,000 payable in 2 years. To repay the loan, she must pay an amount every month with an interest rate of 6% compounded monthly. How much should he pay every month? O a. 7,648.09 O b. 6,648.09 O c4,814.93 O d. 3,814.29
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- Grace borrowed P150,000 payable in 2 years. To repay the loan, she must pay an amount every month with an interest rate of 6% compounded monthly. How much should he pay every month? P6,468.09 P6,648.90 P6,648.09 P6,684.09Jake is paying P2,500 every 3 months for the amount he borrowed at an interest rate of 8% compounded quarterly. How much did he borrow if he agreed that the loan will be paid in 2 years and 6 months? a. P24,652.45 b. P25,890.50 c. P22,456.46 d. P23,897.36Charles has just taken out a loan at an annual rate of 12%. Based on the conditions of the loan, he must make payments of $1,200 per year for 15 years in order to repay the full amount of the loan. How much money did Charles borrow? O $8.173.04 O $44,735.66 O $18,000.00 O $6,504.74
- Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly. To fulfill his obligation to repay the loan, Pedro agreed to start paying the six (6) equal monthly payments starting next month. a. What will be the amount of his monthly amortization? b. Construct an amortization schedule. Use a table similar to that found in our textbook. c. What will be the outstanding balance of his loan at the end of 4 months from today? d. If Pedro failed to pay the 2nd and 3rd monthly amortization, how much shall be the required single payment on the fifth month in order to fully pay his outstanding obligation? e. Supposed that he will still not be able pay the single total payment on the Fifth month as stated in question d. above, and assuming further that both parties agree that the outstanding obligations shall instead be paid in 7 equal monthly installments, at 15% compounded monthly, starting on the 9th month, what will the value of such monthly installment be?Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly. To fulfill his obligation to repay the loan, Pedro agreed to start paying the six (6) equal monthly payments starting next month. a. What will be the amount of his monthly amortization? b. Construct an amortization schedule. Use a table similar to that found in our textbook. c. What will be the outstanding balance of his loan at the end of 4 months from today? d. If Pedro failed to pay the 2nd and 3rd monthly amortization, how much shall be the required single payment on the fifth month in order to fully pay his outstanding obligation? e. Supposed that he will still not be able pay the single total payment on the Fifth month as stated in question d. above, and assuming further that both parties agree that the outstanding obligations shall instead be paid in 7 equal monthly installments, at 15% compounded monthly, starting on the 9th month, what will the value of such monthly installment be?…Caroline borrowed $1,500.00 at 9.00% p.a. She wants to settle this loan with 2 equal payments, one in 5 months and another in 16 months. Determine the size of the payments using 'now' as the focal date.
- Emily receives R1 500,00 from the bank now that charge 10,5% simple discount per annum. She has to pay back the bank as amount of R1 893,75 in a few months' time. The number of months after which Emily pays back the loan, rounded to one decimal place, is O a. 23,8. O b. 2,5. C. 2,0. O d. 30,0.Hudson agreed to borrow R4 954, 85 at 9% compound interest per month when he signed the loan papers today. Each month, the loan payment is R143, 84. How many loan installments does he need to make before the balance is settled in full? a. 70,30 b. 56, 88 c. 29, 89 d. 40,00 Question 16 Peter wants to purchase a car that costs R250 000,00. He decides to take a loan on the car in the expectation that it will be paid over six years at an interest rate of 15% compounded monthly. What will the interest payment be on the 24th monthly payment? a. R5 286, 24 b. R2 876,01 c. R2 410,24 d. R3 125,00A. Aisha borrowed R.O 80,000 to pay her child’s education at Muscat College. Aisha must repay the loan at the end of 8 months in one payment with 7 ½ % interests. How much simple interest must Aisha pay? What is the total amount she will pay? B. 3- A certain sum of money is borrowed at a compound interest rate of 10% per annum for 3 years. After three years an amount of R.O 1331 is returned to the lender. What was the sum borrowed in the beginning?
- Jordan received a $30,200 loan from a bank that was charging interest at 3.50% compounded semi-annually. a. How much does she need to pay at the end of every 6 months to settle the loan in 5 years? Round to the nearest cent b. What was the amount of interest charged on the loan over the 5-year period? Round to the nearest centPauline borrows a loan of 120000 for 3 years at 11.5% simple interest Calculate the total interest due on the loan If she is required to reply in monthly installments how much how much would she repay per month? What is the banks profit as a percentage of the loan accounts.Mrs Shiirley Abundo borrowed 20, 000.00 at 7.5% compounded quarterly at a certain cooperative. How much interest will be charge if she applies for a 2- year loan? What is the future value? a. 20,445.56 c. 39, 554.34 b. 28, 998.96 d. 30, 336. 24 What is the compound interest? a. 8,998.96 c. 5,996.56 b. 7,998.46 d. 4,338.55
