Mr. Dev wishes to purchase an AC for Rs. 45, 000 with a down payment of Rs. 5000 and balance in EMI for 5 years. If Bank charges 6% per annum compounded monthly then monthly EMI is: use 0.005 1-(1,005)- 0.0194 -60
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- Calculate monthly emiFin. Prob solveA bank account pays 5.2 % annual interest compounded semiannually. How much money should be deposited in it now so that the account contains 20500 Rials at the end of 3 years? (Give your answer to the nearest Rial). 2 Select one: O 3704 (Rials) O 17116 (Rials) O 24563 (Rials) O 17129 (Rials)
- A man deposited P5,000 in a bank at a rate of 10% per annum for 7months and 25days. Find the ordinary simple interest and accumulated amount. O P326.39 O P336.39 P346.39 P356.39A man will deposit P1,000.00 with a savings and loan association at the beginning of each 3 months for 9 years. If the association pays interest at the rate of 10% quarterly, find the sum to his credit just after the last deposit. a. P58,633.95 O b. P58,733.95 O c. P58,373.95 O d. P58,763.95Vijay
- Suppose you have $2,300 and plan to purchase a 10-year certificate of deposit (CD) that pays 10.4% interest, compounded annually. How much will you have when the CD matures? a. $2,539.20 O b. $6,896.80 O c. $6,186.12 O d. $6,339.32 e. $5,603.37 Oa man borrowed P2000.000 from a bank and promised to pay the amount for 1 year. He received only the amount of P1920 after the bank, collected an advance interest of P80.00. Determine: interest rate rate of discount difference between A&BBank A pays 5% interest compounded annually on deposits, while Bank B pays 4.8% compounded monthly. Based on the EAR (or EFF%), which bank should you use? Describe how you reach your final answer