Mahesh borrowed 8500 from bank to purchase a cow and after 1 year he paid 9180 back to bank. Find the interest that was given by Mahesh.

Q: Suppose a man took out a 30-year loan with an annual rate of 6% to put an addition on his house. His…

A: Loan year=30 years Interest=6% Computer cost =$ 1,500 Here,we need to find amount of interest paid…

Q: Mrs Shiirley Abundo borrowed 20, 000.00 at 7.5% compounded quarterly at a certain cooperative. How…

A: Here, Borrowed Amount is 20,000 Interest Rate is 7.5% Time Period is 2 year Compounding Period is…

Q: Ronald Gonzales, who recently sold his Bicycle, placed P10,000 in a savings account paying annual…

A: Future Sum is the accumulated value of given amount with interest over each period. In given case,…

Q: Stefan borrowed money from Sanjeev and agreed to pay back $300 5 months from now and $100 in 11…

A: In finance, the time value of money rule states that the money received earlier is more powerful…

Q: What is the value today of a money machine that will pay $2,022.00 per year for 20.00 years? Assume…

A: Present value refers to the discounted value of all the future cash flows for the specified period…

Q: Rayleene is getting a loan to buy a used car from a seller. The price of the car is $8200.00. She…

A: As per our guidelines, we are supposed to answer only 3 sub-parts (if there are multiple sub-parts…

Q: Cardo borrowed money from a local cooperative. He received P18,420 but promised to pay P20,000 in…

A: Present Value = 18,420 Future Value = 20,000

Q: Sam owns the bank some money at 5% per year. After half a year, he paid 15 dollars as interest. HOW…

A: The banks gives the loan to the customers but the charge the interest on the loan and customers have…

Q: 1. If money is worth 5% compounded quarterly, how much must Julea save every end of three months to…

A: Here we will use the concept of time value of money. As per the concept of time value of money it is…

Q: Michael borrowed RM420,000 to buy an apartment in Damansara. His loan cost was 6% and he promised to…

A: A loan is a financial arrangement in which a lender provides a specified amount of money, known as…

Q: urt borrowed from a bank and wants to start paying P50,000 annually at the end of the 4th year. If…

A: In this we need to find the present value of payment today.

Q: Rahma borrowed OMR 600 at the rate of 12% from Bank Dhofar for 6 years. Find the interest she will…

A: Given taht, Loan amount = OMR600 Rate of interest = 12% Number of year for which loan has taken =…

Q: if Rita has to pay 50000 rupees after 10 years and interest rate is 8% in the bank, how much to pay…

A: Present value is the current value of cash flows that are to be received in future. It is calculated…

Q: Jon buys a car for $25,000. He pays $5000 down and pays the balance in 60 equal monthly payments. If…

A: Computation:

Q: n Guimo is going to purchase a house with a purchase price of P. ay as a down payment. He is going…

A: It is assumed that monthly payments are to be made. The given problem can be solved using PMT…

Q: a) i) Ali is paying off a loan by making $50 payments at the end of every month for 2 years, at 6%,…

A: Loan is a borrowed amount taken for the purpose of completing the shortage of funds. When an…

Q: Jino sold his house. In addition to cash, he took a mortgage on the house. The mortgage will be paid…

A: Present value is also known as a present discounted value, in which the future value of cash inflows…

Q: Akbar bought a car on loan and pays the simple interest at 5% amounting to RO 3,000 per annum for 5…

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…

Q: Crispin wants to buy a motorcycle. His mother will loan him some money at only 6% compounded…

A: Given, The rate is 6% compounded quarterly. Amount to be repaid is P3600 in 2 years

Q: ana has to pay RM1,200 every month for 360 months to settle a housing loan at 4% compounded…

A: Here we will use the concept of time value of money. As per the concept of time value of money the…

Q: Aman has two debts to pay. A $850 due today and a $950 due in 9 months from today. Instead, he wants…

A: Present Value(PV) is value of a future amount at current point of time. It is done by discounting…

Q: magine that the interest rate on your savings account is positive and there is no inflation rate.…

A: Due to  interest rate money grow with time but due to the inflation the value of money decreases…

Q: (2) Jack has deposited P1,000 into a savings account. He wants to withdraw it when it has grown to P…

A: Future value = Present Value* (1+Rate of Interest)t Here t is the time period or we can also say…

Q: 8. Joseph borrowed a single-payment loan of $12,000 at an interest rate of 15%. The term of the loan…

A: For calculating exact interest, 365 days for normal year and 366 days for leap year will be taken as…

Q: 2. Suppose Miss Roxanne Davenport is 25 years old right now and puts away $1,800 per quarter in an…

A: As per the information provided: Age of Miss Roxanne Davenport - 25 years Investment in an account -…

Q: 1. George bought a new car with a 4.1% interest rate for 5 years. The loan is for $35,000. What is…

A: The portion of interest during a particular period can be determined using CUMIPMT function in…

Q: Mye has a 15-year mortgage loan at a compounded annual interest rate of 9.3%. After making annual…

A: Given that: Annual Cash flow=P11600 N=7 Years=7*12=84 Months r=9.3% annually= 0.93/12 Monthly =0.775…

Q: 1. Larry borrowed $1,000 through a loan shark, two years later he ended up paying $1,500 to settle…

A: The Present Value refers to a concept that states the discounted value or say value at today's time…

Q: 5. Megan invests her savings Po into a brokerage account that claims to payout a nominal interest…

A: To determine :   a. b. c.(i) c.(ii) Nominal Interest ? 6% 6% 6% Present Value P0 ? 1000 1000…

Q: Johnny has a loan for $50,000 at a rate of i(4) = 8% on which he makes quarterly payments of $2,000.…

A: Amount of deposit every 3 months: $500 starting from today at a rate of interest of 1% effectively.…

Q: Jen Logan bought a home in Iowa for $110,000. She put down 20% and obtained a mortgage for 30 years…

A: Time period = 30 Years Interest rate = 512%Interest rate = 5.5% Down Payment = 20% Price of home =…

Q: A. Aisha borrowed R.O 80,000 to pay her child’s education at Muscat College. Aisha must repay the…

A: Loan: It is the amount of money borrowed from a person or bank or company for a certain period…

Q: Tina deposited $20 in a savings account earning 5% interest, compounded annually. To the nearest…

A: Interest is the amount charged or received for loan taken or investment made. There can be simple…

Q: Calculate the amount of money that must be saved at this time.

A: Formula for present value annuity is; PV = FV/(1+(r/n))nt Where as, PV = Present value FV = Future…

Q: Emily receives R1 500,00 from the bank now that charge 10,5% simple discount per annum. She has to…

A: To find the number of months after which Emily pays back the loan, we can use the formula for simple…

Q: Suppose a man took out a 30-year loan with an annual rate of 6% to put an addition on his house. His…

A: Data given: Cost of computer=$1200 n=30 year Rate=6% p.a.

Q: Kween Yazmine's mother borrowed Php35,000 to fix their car. The bank charges 5% interest for two…

A: Borrowed amount (PV) = Php 35,000 Interest rate (r) = 5% Period (n) = 2 Years

Q: (c) Alata Kwaku borrowed ¢2,130 from his uncle and promised to pay him ¢2,720 after 2 years. With…

A: c) Given, Future value of borrowed amount = ¢2,720 Present value borrowed amount = ¢2130 number of…