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- Solve the following problems: a. Give the discount of ₱ 750 for 15 years at 7% compounded monthly. b. At the birth of a child, what sum should his father invest in order to provide the child with ₱ 20,000 at age 21 if the money earns 10% compounded quarterly?Betty wants to invest a monthly sum of money in order to accumulate R100000 in seven years. How much must be the deposit monthly if her bank offers her an interest rate of 6% per annum compounded monthly? What if she was given an interest rate of 8%?(b) Aminah plans to buy a house in Shah Alam which the market price is RM450,000. To buy the house, she needs to pay 10 percent down payment and only has 5 years to accumulate that amount of money. Calculate the amount she needs to deposit every year if the account pays 8 percent interest annually.
- John Lloyd and Izan want to buy a $138,000 home. They plan to pay 20% as a down payment, and take out a 30 year loan at 4.15% interest for the balance. a) How much is the loan amount going to be? b) What will the monthly payment be for John Lloyd and Izan? c) How much of the first payment is interest? d) What is the total of the payments? e) How much interest was paid?kenzo decided to buy a brand new car worth php 1, 200, 000 and plan to amortize the loan in monthly installments for 3 years with 50% down payment in 6% interest. How much will be the monthly installment?Ms. Maya Manaco has P2,500,000 to invest for a year. She can lend it to his brother who has agreed to pay 10% simple interest for the year, or she can invest it with a bank at 8% compounded quarterly for a year. Which of the alternatives will yield a higher interest? By how much? **
- Whiskers wants to buy a $600,000 house. She plans to pay $200,000 down and make monthly payments for 20 years. If the loan has an interest rate of 5% monthly with 3 points, what is the true interest rate?Samantha wants to buy a car costing $30,000. Her down payment is $8000. The remainder will be paid in monthly installments over 5 years at 4% compounded monthly. Find the size of the payment.A person buys a house for which he agrees to pay Rs. 5,00,000 now and Rs. 5,000 at the end of every month for 6 years. If the money is worth 8% compounded quarterly, what is the cash pric of the house?
- Muaz will need $130,000 in 4 years to buy a piece of property. He plans to save money by making equal quarterly deposits into an account earning 6.1% per year compounded quarterly. What is muaz quarterly deposit.jason is considering purchasing a vehicle with a cash price of 75800. what is the annual interest rate if jason is required to pay 20000 annually at the end of each year for 5 years?Jin decided to buy his dream car worth 1,125,000 pesos. The seller requires a 20% down payment while the rest of the payment will be settled in 15 years with an interest rate of 3% per year compounded every month. a.) Find Jin’s monthly payment. b.) If after 10 years, he decided to pay off the loan, calculate the amount he has to pay. Note: for <a.)> is the monthly payment 6215.47 or 6215.23 ?
