he percentage rounded to two decimal places, of the total payments made the first two years that will go forward repayment of interest, is

Q: Maria took out a loan for $7900 that charges an annual interest rate of 8.8% compounded quarterly.…

A: n=4 r=8.8/4/100=0.022 present value=7900

Q: Mae purchased a home for ₱4,570,000 and obtained a 20-year loan with an annual interest rate of…

A: Given Information : Cost of home = 4,570,000 pesos Period of loan = 20 years Annual interest rate =…

Q: Dr. Sanchez  borrowed P3, 500, 000 at 8% for 10 years. The loan stipulated that the following…

A: Here, Borrowed Amount is P3,500,000 Interest Rate is 8% Time Period is 10 years Payment from year 1…

Q: how much does he need to pay quarterly?

A: A stream of equal cash flows (CF) paid or received periodically is termed as annuity. Annuity due…

Q: Joshua borrowed P250,000.00 with interest at the rate of 5% compounded semi-annually. He agrees to…

A: Interest rate = 5% (Assumed for every 6 month) Loan amount = P250,000   Calculation of loan amount…

Q: In return for a loan, Mr. Domingo promises to pay P15,000 at the end of each 3 months for two years.…

A: Amount repaid quarterly is P15,000 Time period is two years Interest rate s 10% converted quarterly…

Q: Mr. Trafalgar Law purchased a house and lot worth P4,000,000. He paid a down payment of P1,500,000.…

A: The method of lowering the book value of a loan or intangible asset over a predetermined period of…

Q: Mr. Jimenez buys a parcel of land worth P550,000. He pays a P50,000 down payment and the remaining…

A: The question is based on the concept of Financial Management.

Q: Muscat Company buys a bui plot of land for OMR100,000, OMR20,000 cash and signing year mortgage note…

A: Cost of Land = OMR 100,000 Cash paid = OMR 20,000 Mortgage note issued = Cost of Land - Cash paid =…

Q: A man paid 10% down payment of P200,000 for a house and lot and agreed to pay the balance on monthly…

A: Given: Particulars Amount Down payment            200,000 Down payment rate 10% Monthly…

Q: Paris has a mortgage of $820,000 through the RBC for a vacation property. The mortgage is repaid by…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: Lily purchased a boat valued at $19 000 on an installment plan requiring equal monthly payment for…

A:

Q: A man purchased on monthly installment a P100,000 worth of land. The interest rate is 12% nominal…

A: The monthly amortization amount can be calculated with the help of present value of annuity

Q: What was the size of the periodic payments?

A: First, we need to determine the equivalent interest rate as the loan is compounded monthly, but the…

Q: Stephen deposited $1,200 at the end of every month into an RRSP for 8 years. The interest rate…

A: Amount deposited at the end of every month is $1200 Time period is 8 years Interest rate for first…

Q: Nihal is borrowing Rs. 50,000 to buy ABC assets. If he pays equal installments for 25…

A: An asset can be purchased by outright cash payments or in installments. The installment amount…

Q: Today, Cari purchased a car worth P1.5 million. A down payment of P150,000.00 has been made, and the…

A: Amortization of Loan  Calculation of Equalized Payment ( instalment )

Q: Trinidad has a mortgage of $900,000 through the Scotiabank for a vacation property. The mortgage is…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: A businessman borrowed P320,000 with interest at the rate of 4.9% compounded semi-annually. He…

A:

Q: James borrows $280 000 and repays the loan in equal fortnightly repayments of $1250 over 20 years.…

A: The time value of money is a concept used to compute and analyze the present worth of the future…

Q: How much in each of the quarterly installments if rate of interest 10% compounded bi-monthly?

A: A stream of equal cash flows paid or received periodically is termed as annuity. Annuity is either…

Q: A vacation property was bought by making semi-annual payments of S7500.00 for seven years. If the…

A: In order to calculate the purchase price of the property, we will use the future value function in…

Q: A man borrowed K6,000 a 7% and agrees to pay back by making equal payments at end of every month for…

A: Amortization schedule: A table that details the regular payments for an amortizing debt is called an…

Q: an employee obtain a loan of 10000 at the rate of 6% compounded annually in order to repair his…

A: Amortized loan refers to a loan where the principal amount of the loan is paid over the life of the…

Q: David borrowed R911 012,00 to refurbish his holiday home. The loan requires monthly repayments over…

A: A mortgage refers to a covered loan that is borrowed for the purchase or maintenance of a property…

Q: Mr. Barela’s monthly amortization is ₱3,500.00, payable at the end of each month. His house and lot…

A: Given, Amount Payable (each month) = ₱3,500.00 No. of years (fully paid) = 20 years Interest Rate…

Q: A woman paid 20% down payment of P300,000 for a house and lot and agreed to pay the balance on…

A: given, price = p300,000 downpayment = 20% r=15% m=12 (monthly compounding) pmt = p 33,396.51

Q: Asa has invested money from the settlement of an insurance claim. She plans to withdraw $960 from…

A: Here, Particulars Values Monthly withdrawals (PMT)  $960.00 Interest rate 7.00% No. of…

Q: Rally bought a brand new car for P 600,000. He pays a down payment of P 150,000, balance to be…

A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…

Q: Zoey signs a note to repay $10,000.00 plus 8% interest in 1 year. Four months before the note is…

A: Zoey'took debt for a value of $10,000 which he needs to repay with 8% interest. Here, we need to…

Q: Oliver owes GH¢500 due in 4 months and GH¢700 due in 9 months. What single payment (i) now, (ii) in…

A: The present value of the amount will be considered on the basis of future value discounting over the…

Q: Alexis deposited $1,000 at the end of every month into an RRSP for 7 years. The interest rate earned…

A: Future value of annuity (FVA) is a stream of recurring cashflow compounded at specified rate.…

Q: rek deposited $700 at the end of every month into an RRSP for 7 years. The interest rate earned was…

A: Compound interest is a financial concept in which the interest generated on an initial sum of money,…

Q: Mr. Reyes borrows P600,000 at 12% compounded annually, agreeing to repay  the loan in 15 equal…

A: We need to use present value of ordinary annuity formula to calculate equal payment. PMT…

Q: Julia deposited $900 at the end of every month into an RRSP for 7 years. The interest rate earned…

A: Compound interest is a financial concept in which the interest generated on an initial sum of money,…