Jumbo Bato borrowed money from Rovin Patila,payable for 3 years. If the interest rate per year is 9%, determine the following: a. Total interest due for each year b. Total interest due after 3 years c. Total amount due after 3 years d. Total amount due after 100 days considering the loan was obtained on February14, 2020 e. Total amount due after 5 months considering the loan was obtained in October 2021.
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- Jumbo Bato borrowed money from Rovin Patila,payable for 3 years. If the interest rate per year is 9%, determine the following:a. Total interest due for each yearb. Total interest due after 3 yearsc. Total amount due after 3 yearsd. Total amount due after 100 days considering the loan was obtained on February14, 2020e. Total amount due after 5 months considering the loan was obtained in October 2021. Use Php 10,000 as the amount of borrowed moneyConsider the following loan. Complete parts (a)-(c) below. An individual borrowed $87,000 at an APR of 6%, which will be paid off with monthly payments of $594 for 22 years. a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. the annual interest rate is %, the number of payments per year is The amount borrowed is $ payment amount is $ b. How many total payments does the loan require? What is the total amount paid over the full term of the loan? payments toward the loan and the total amount paid is $ c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest? The percentage paid toward the principal is% and the percentage paid for interest is (Round to the nearest tenth as needed.) There are %. the loan term is years, and theWhat is the interest income for 2021? Philippine Bank granted a loan to a borrower on January 1, 2021. The interest on the loan is 8% payable annually starting December 31, 2023. Principal amount Origination fee charged against the borrower Direct origination cost incurred 3,000,000 100,000 260,300 After considering the origination fee charged to the borrower and the direct origination cost incurred, the effective rate on the loan is 6%. a. 240,000 O b. 189,618 c. 252,824 O d. 180,000
- Benjamin Co. borrowed money on September 1, 2020. The loan had the following terms. Length: 5 years Interest: 10% Amount: $120,000 Payments per year: 1 Benjamin Co. has a year end of December 31. NOTE: You may use your financial calculator or you may use the present value annuity factor, which is 3.7908. REQUIRED: Journalize the accrual on December 31 and the 1st payment on Aug 31, 2021 below: Date Account Title and Explanation PR Debit CreditConsider the following loan. Complete parts (a)-(c) below. An individual borrowed $73,000 at an APR of 3%, which will be paid off with monthly payments of $356 for 24 years. a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $ the annual interest rate is %, the number of payments per year is, the loan term is years, and the payment amount is $. b. How many total payments does the loan require? What is the total amount paid over the full term of the loan? There are payments toward the loan and the total amount paid is $. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest? The percentage paid toward the principal is % and the percentage paid for interest is % (Round to the nearest tenth as needed.)For the loan amount, interest rate, annual payment, and loan term shown in the following table, calculate the annual interest paid each year over the term of the loan, assuming that the payments are made at the end of each year. amount interest rate annual payment term $44,000 9% $13,581.42 4 years The portion of the payment that is applied to interest in year 1-4 is
- 4. Establish loan amortization schedules for 3-ycar loan of $20,000 (initial loan) with cqual payments at the end of cach year. The interest rate is 5 percent per year. NOTE: PLEASE SHOW HOW YOU COMPUTE EACH OF THE ITEMS.K Consider the following loan. Complete parts (a)-(c) below. An individual borrowed $65,000 at an APR of 5%, which will be paid off with monthly payments of $442 for 19 years. ... a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $ %, the number of payments per year is the loan term is years, and the payment amount is $ the annual interest rate is "Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $17,900 with an annual interest rate of 09.00%. The loan will be repaid over 22 years with monthly payments. 1. What is the Loan Payment? 2. What portion of this payment is Interest? 3. What portion of this payment is Principal? 4. What is the Loan balance after first monthly payment?
- 1. PEDRITO OBTAINS A LOAN FOR $140,000.00 FOR A TERM OF ONE YEAR AND EIGHT MONTHS WITH A SIMPLE INTEREST RATE OF 4.0 PER MONTH a) IF THE ACCRUED INTEREST IS PAID AT THE END OF EACH MONTH, HOW MUCH SHOULD YOU PAY? b) IF THE INTEREST OBTAINED IS PAID AT THE END OF THE ESTABLISHED PERIOD, HOW MUCH WILL YOU PAY IN TOTAL FOR INTEREST?Consider the following loan. Complete parts (a)-(c) below. An individual borrowed $77,000 at an APR of 7% which will be paid off with monthly payments of $562 for 23 years. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $77,000 The annual interest rate is 7% The number of payments per year is 12 The number of payments per the loan term is 23 year And the payment amount is $562 How many total payments does the loan require? What is the total amount paid over the full term of the loan? There are ___ payments toward the loan and the total amount paid is _____2. A loan of P2,000 is made for a period of 13 months. from January 1 to-lanuary 31 the following year. at a simple interest rate of 20%. What future amount 1s due at the end of the loan period?