Mark bought a house worth 50,000,000 pesos and is going to pay it monthly for the next 20 years. If the interest rate is 18% interest compounded monthly, how much is the outstanding balance after 10 years? 44,983,176.55 pesos remaining None of the above 42,825,701.88 pesos remaining 43,162,1466.77 pesos remaining

Q: Junly bought a lot in Conel as his investment. The owner sell it for P^(10),000 down payment plus…

A: Step 1 The interest that is accrued on both the initial principal and the interest that has already…

Q: Atsushi Murasakibara owes a debt to a lending company of P30,000.00 due in 1 year and another…

A: Interest rate is 6.5% Compounded semi annually Amount due in 1 year is P30,000 Amount due in 4 year…

Q: 6. If you deposit $4,000 now, $5,000 at the end of 2 years and $6,000 at the end of 5 years into an…

A: The concept of money's time value reveals that any sum currently is worth more as compared to the…

Q: 1. Gabriel bought a new car worth PhP 2M. He made a downpayment worth "X" pesos. After this, he must…

A: B. PhP 413,280 Explanation: The monthly payment will start 3 years from now, which means that if…

Q: If you deposit 6,000 pesos in an account that pays 4.5 simple interest, how much will you have in…

A: As per bartleby guidelines,  "Since you have asked multiple questions, we will solve the first…

Q: A) When you retire, you move $300,000 into an account that pays nominal interest of 4%, compounded…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: A man purchases a lot worth 5M if paid in cash. On installment basis, he paid P800,000 down payment,…

A: Data given: Lot worth = P 5M = P 5000000 Down payment = P800,000 Loan amount = P 5000000 - P 800,000…

Q: Four years ago, XZY deposited $2,920 in an account that has earned and will earn 8.70 percent per…

A: Under the compounded interest rate, the base amount on which the interest is earned increases every…

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: o-Fast invests $20,000 in a certificate of deposit that mature safter 7 years and pays 9 percent…

A: The future value is the future worth of the amount that will be paid or received in the future.

Q: Joella invested RM5,000 in an interest-bearing promissory note earning an 8% annual rate of interest…

A: Following is the answer to the question

Q: Marcus deposits $2600 into an account that has an annual interest rate of 5% compounded monthly. If…

A: Deposit is 42,600Annual Interest Rate (r) is 5%Compounding Period (m) is Monthly i.e 12Time Period…

Q: Mary deposits her P500, 000 in a saving bank that gives nominal interest if 9.4% compounded…

A: The value of the deposit after a period will be the future value of that deposit.

Q: help!! Hector needs $13,000 in 7 years. (a) What amount should he deposit at the end of each quarter…

A: Amount needed " FV" is $13,000Time period is 7 yearsInterest rate is 7% Compounded QuarterlyTo…

Q: Mr. Al Khasim deposited OMR 20,000 in a bank which offers a compound annual interest of 6%. How long…

A: Compound interest is one of the form of interest under which interest is charged on both principal…

Q: John wants to accumulate an amount of $100,000 in today’s money in his bank account at end of year…

A: Required Balance = $100,000 in Today's Money  Required Balance = $100,000 * (1.04)^10 Required…

Q: Mr. Joe  takes a loan P amount from the bank. The loan attracts an interest of 1.5% per month…

A: future value = present value×ert where, r=rate of interest t=time in years

Q: William got a loan for 25,000 dlls to be payable in 19 years with interest rate of 1.7 percent per…

A: Loan amount = 25000 dlls Period = 19 Years Annual interest rate = 1.7%

Q: Question: Robert is repaying a debt with 19 annual end-of-the-year payments of $1,000 each. At the…

A: Step 1: Calculating a Loan Refinance AmountGiven a loan that is being repaid with regular, equal…

Q: 4. Suppose Ken invested $1 million in an ordinary annuity that earned 4.25%. a. How much would he…

A: We will solve this question with the help of PMT function in excel where,   rate- Interest rate…

Q: Q14) Suppose that Ahmed deposits 2000 $ every 6 month in a saving account which pays 12% annual…

A: The FV of annuity due formula is FV = Pmt x [(1 + r)n - 1]/r x (1 + r), where Pmt is the periodic…

Q: Derek will deposit $7,502.00 per year for 23.00 years into an account that earns 8.00%, The first…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: Sam invests $ 7500 into an account earning 5.75% interest compounded quarterly. How long will it…

A: The idea of the time value of money (TVM) holds that a quantity of income is valued sooner than it…

Q: How much will Cyrus receive 5 years after his last deposit if he deposited 1,092 Php annually for 10…

A:

Q: A. Zoey deposits $500.00 every quarter into an account earning 5% interest compounded quarterly. How…

A: The time value of money is the concept widely used to determine the correct worth of the sum to be…

Q: if mr. rankie bought a piece of property for 100000 pesos down payment and 10 deferred semi-annually…

A: Time value of money is applied for calculation of the present value of an asset. All cash flows are…

Q: usinessman borrowed P300,000 with interest at the rate of 6% compounded annually. He agrees to…

A: The annual payment depends on the interest rate and original amount of loan and deferred period of…

Q: Mr. Ali deposited 500 OMR today into a security that pays him 10 % interest compounded. He  wanted…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: Mary deposits her P500,000 in a saving bank that gives nominal interest if P9.4% compounded…

A: Time value of money (TVM) is a concept which states that the money today has more worth than the…

Q: Daiki Aomine owes a debt to a lending company of P50,000.00 due in 2 year and another P55,000.00 in…

A:

Q: Mr. Bee will deposit $1,000 every year, earning interest rate of 7% compounded annually, the first…

A: Compound interest is the additional payment on a loan or deposit that is computed using both the…

Q: 1.A person buys a piece of lot P300,000 downpayment and 8 deferred quarterly payments of P8,000…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: John invests R50 000 at FS bank for 5 years. He gets an interest rate of 7,2% per annum compounded…

A: Future value of the amount includes the amount that is being deposited and the amount of interest…

Q: Mark has an amortization and he is required to do semi-annual payments for 15 years. If the present…

A: Loan Amount =10,000,000 pesosInterest rate per year =17%Number of years=15We need to find the…

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.