On December 16, 2018, Mr. Anjo Marquez applied for a Php 750,000 loan. After deducing the interest in advance, he received Php 680,000. If the loan is to be repaid at the end of 9 months, at what rate is interest charged?
Q: Jumbo Bato borrowed money from Rovin Patila,payable for 3 years. If the interest rate per year is…
A: Data given: Interest rate (r) = 9% p.a. (assumed simple interest rate) n= 3 years Loan amount (P)…
Q: Maya borrowed 15, 000 pesos last June 10, 2020, from a lending institution which offered 12% simple…
A: The time period for which loan or borrowed amount is due or funds are held by borrower is calculated…
Q: Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly. To fulfill his obligation…
A: As you have asked a question with multiple parts, we will solve the first 3 parts as per policy of…
Q: Mr. Ahmad lent RM2000 to an employee on February 18, 2020, with interest at 7.5%. The debt was…
A: Debt = 2000 Issue Date = Feb-18-2020 Interest Rate = 7.5% Repayment Date = Dec-24-2020 N =…
Q: M&M Bank granted a loan to a borrower on April 1, 2020. The interest on the loan is 10% payable…
A: The carrying value of the loan is calculated by discounting the future cash flows from the loan at…
Q: 5. On December 16, 2018, Mr. Anjo Marquez applied for a Php 750,000 loan. After deducing the…
A: Interest rate is the percentage of interest charged on the particular borrowing for a specific…
Q: Joel borrowed $2776.55 on November 2, 2021 at 4.5% p.a. How many days would it take for him to…
A: A loan refers to a contract between two parties where money is forwarded to one party by the other…
Q: On February 1, 2022, Mr. X promised to pay Ms. Y the amount of ₱10,000.00 at an annual rate of 6%.…
A: Note payable is a form of promissory note which is a promise given by one person to another person.…
Q: Ms. R. would like to buy a mobile home. For this purpose, she takes out a loan on 01.01.2021 Amount…
A: "Hi there, thanks for posting the questions. But as per our Q&A guidelines, we must answer the…
Q: A friend of yours borrowed an amount of Php 70,000. Based on your conversation, She intends to pay…
A: Loan Amount = Php 70,000 Interest rate = 24% Time Period = 1 Year
Q: On April 5, 2019, Janeen Camoct took out an 8.5% loan for $20,000. The loan is due March 9, 2020.…
A: The amount of the loan is $20,000 The interest rate on a loan is 8.5% The start date is April 5,…
Q: What is the interest income for 2021? Philippine Bank granted a loan to a borrower on January 1,…
A: Interest Income for 2021 = Principal amount* interest rate where, Principal amount = $3,000,000…
Q: 1. On November 20, 2021, JD borrowed Php36,500 from Migs. He promised to pay the principal and…
A: FV stands for Future value refers to the value of the assets at the future date which is grounded on…
Q: June 6, 2022 Czarina borrowed Php10,000 to Cardo Lending Company that will mature on November 8,…
A: In order to calculate the time period between the maturity of loan the date of loan taken and the…
Q: On June 6, 2022 Alyana borrowed Php10,000 to Cardo Lending Company that will mature on November 8,…
A: Time value of money concept is very important concept dealing in present value and future value.…
Q: Assume that time today is Dec. 13, 2022. Determine what is being asked in each problem. 1. Coco…
A: Amortization schedule refers to the amount including the principal and interest payments made for…
Q: Luis paid off a loan by making a payment of $4,050, which included simple interest of 3% p.a. If he…
A: Payment amount after 6 months (FV)= $ 4050 Annual interest rate (R) = 3% Period (T) = 6 Months =…
Q: Engr. Tongol borrowed money from a loan shark. He receives from the loan shark an amount of P…
A: Simple interest = Amount borrowed * Interest rate * (Number of months / 12)
Q: On October 31, 2019, Strongman Samson borrowed P100,000.00 from Pretty Delilah subject to an…
A: The simple rate of interest means the interest amount is determined by the principal amount. The…
Q: M&M Bank granted a loan to a borrower on April 1, 2020. The interest on the loan is 10% payable…
A: A loan is a debt amount granted by banks or other financial institutions to borrowers. The duration…
Q: On October 31, 2019, Strongman Samson borrowed P100,000.00 from Pretty Delilah subject to an…
A: The FV of an asset refers to its value at a predetermined point in the future and an assumed rate of…
Q: On May 30, 2021, Fred loaned ₱150,000 in a bank. It was agreed that he will pay the amount with a 6%…
A: Whenever we need to borrow funds for the business, it can be from internal members or from outside…
Q: On June 26, 2019, Naomi obtained a loan of P150,000 from a local businessman. The interest rate on…
A: There are two types of simple interest: the ordinary and the exact. These two phrases employ the…
Q: 1. Cameron designates 10% of his monthly earnings as charitable contributions. After deducting this…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly. To fulfill his obligation…
A: Loan Amount = P 300,000 Interest rate = 12% Time Period = 6 Months
Q: What amount must be repaid on October 10, 2019, if Php6,000 is borrowed on October 10, 2011 at 5.75%…
A: Formula of simple interest = (P*R*T)÷100 Where P= principal R= Rate T=time…
Q: Z.Anna borrowed money from a bank charging 10% interest last January 12, 2020 and is due on June 12,…
A: Given Information: Annual interest rate = 10% Amount paid at the end of loan = P5,500 Date when the…
Q: wishes to discharge a loan of ₱ 50,000 borrowed from JB by means of periodic payments of ₱5,000. JB…
A: Loans are paid by equal periodic fixed payments that carry the payment for interest and payment for…
Q: Kelly Jones and Tami Crawford borrowed $26,000 on a 7-month, 6% note from Gem State Bank to open…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Antoni is about to graduate and he wants to buy a new electric bike he borrowed php 2,5000 from a…
A: Interest is an additional amount which is charged on borrowed amount for the period. It is a…
Q: A man borrows Php 64,000 from a loan association. In repaying this debt, he has to pay Php 4000 at…
A: Given:
Q: A man borrows P5,430 from a loan association. In repaying this debt, he has to pay P425 at the end…
A: Loan Amount 5430 Simple Interest 14.75% Amount for each instalment 425 No of…
5. On December 16, 2018, Mr. Anjo Marquez applied for a Php 750,000 loan. After deducing the interest in advance, he received Php 680,000. If the loan is to be repaid at the end of 9 months, at what rate is interest charged?
![](/static/compass_v2/shared-icons/check-mark.png)
Step by step
Solved in 4 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- 1. On November 20, 2021, JD borrowed Php36,500 from Migs. He promised to pay the principal and 11.75% simple interest on September 19, 2022. How much will Migs receive on the said date?On June 26, 2019, Naomi obtained a loan of P150,000 from a local businessman. The interest rate on the loan was 7.75% and it is to be paid on November 15, 2020. What is the Ordinary simple interest using exact time?Antoni is about to graduate and he wants to buy a new electric bike he borrowed php 2,5000 from a bank on march 31 2018 at the rate of 6% the loan is paid at the rate of php 5,000 quarterly until the full amount is paid prepare an amortization schedule and determine the interest expense incurred in 2018 and 2019 with respect to the loan
- 1. On October 31, 2019, Strongman Samson borrowed P100,000.00 from Pretty Delilah subject to an interest rate of 6% per year until full payment. If Samson is able to pay both the principal and the interest on March 10, 2020, how much should Samson prepare in order to satisfy his agreement with Delilah?A friend of yours borrowed an amount of Php 70,000. Based on your conversation, She intends to pay it within one year and based on a monthly basis.The interest rate of the borrowed money is 24%, compounded quarterly. You were able to lend her the money on July 01, 2021, and she intends to pay the first Amortization at the end of August 2021.After paying for the 6 months, she intends to pay the remaining balance at the end of the 7th month. Solve for the following : 1.What is the Amortization Schedule for the loan amounting to 70,000 for a year. 2.What was the Effective rate of interest for the loan. 3.What is the amount that she intends to pay in the 7th month to pay for the debt.7.Anna borrowed money from a bank charging 10% interest last January 12, 2020 and is due on June 12, 2020. If she paid Php5,500 at the end of the loan, what is the amount she borrowed considering exact simple interest? (Clue: Count all the days per month
- Kelly Jones and Tami Crawford borrowed $26,000 on a 7-month, 6% note from Gem State Bank to open their business, Pharoah’s Coffee House. The money was borrowed on June 1, 2022, and the note matures January 1, 2023. what is the entry to record the receipt of the funds from the loan? what is the entry to accrue the interest on June 30?A man borrows P5,430 from a loan association. In repaying this debt, he has to pay P425 at the end of every 3 months on the principal and a simple interest of 14.75% on the principal outstanding at that time. Determine the total amount he must pay after paying all his debt.1. A man borrows Php 64,000 from a loan association. In repaying this debt, he has to pay Php 4000 at the end of every 3 months on the principal and a simple interest of 16% on the principal outstanding at that time. Determine the total amount he has paid after paying all his debt.
- On May 30, 2021, Fred loaned ₱150,000 in a bank. It was agreed that he will pay the amount with a 6% rate of interest on August 10, 2021. What is the total amount of money Fred should pay? (Use banker's rule.)Maya borrowed 15, 000 pesos last June 10, 2020, from a lending institution which offered 12% simple interest and she promised to pay on October 10 of the same year. What is the exact time?Ms. R. would like to buy a mobile home. For this purpose, she takes out a loan on 01.01.2021 Amount of 80,000 euros. An annual interest rate of 4.5% is set in the loan agreement. a) Ms. R. agrees with the bank that the debt plus interest will be in nine equal amounts to be repaid at the end of each year. The first payment is to be made on December 31, 2022. 1. How much is the annuity to be paid at the end of each year from December 31, 2022?2. Enter the repayment schedule line for the 7th year after the debt was taken on.3. Ms. R. considers instead of the annuities, rather advance equal quarter payments in the years 2022, 2023, 2024 . . To achieve in 2030. How much is the quarterly payment? b) Ms. R. agrees with the bank that the debt plus interest will be paid annuities in each case To repay 15,000 euros at the end of a year. The first payment is scheduled for December 31, 2022 respectively. How many years does she have to pay full annuities?