Michael needs Php 10,000 for the renovation of their house. If he will apply for a discounted one year loan at a simple interest rate of 10% per year, how much should he apply for?

Q: Your friend is going to borrow $150,000 using a 30 year mortgage with a 4.25% APR. Which of the…

A: Monthly mortage payment formula for borrowing amount (M), years of mortage (t) and rate of interest…

Q: Linda deposited $4,000 into an with 3.8% interest, composnded semiannually ace oja t are made…

A: Given that  Deposited Amount=$4000 Interest rate compounded semi-annually=3.8% To find The amount in…

Q: On September 26, 2010, Eric received $5,000 from his father. He settled this amount on March 6, 2011…

A: Given that on September  Eric received from his father. He settled this amount on March with…

Q: Rachel wants to buy a car, So she takes out an auto loan for $12,000. The interest on the loan is…

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Q: Ransford and Alda Mariano own a home recently appraised for $426,500. The balance on their existing…

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Q: I signed a 10,000.00 simple discount promissory note at a bank. The discount rate was 6% ordinary…

A: The amount of proceeds is calculated as follows. Proceeds=Face Value - Discount   Obtain the…

Q: For a home mortgage of $150,000 at 6% interest for 30 years, find the followin a. Monthly payment.…

A: Given principal (p)= $150,000 Rate of interest (r)= 6%  Time in years (t)= 30 30 years = 30 × 12=…