Three friends buy a secondhand equipment that costs P120,000.00. They pay P40,000.00 down and the balance in 24monthly payments. If the interest rate is 6% converted monthly, find the payments due at the end of each month.Select one:O a. P9,561.48O b. P3,545.65O c. P1,772.82d. No answerO e. P5,318.47

Monthly Installment on loan: A set payment amount paid by a borrower to a lender at a predetermined…

Answered: Three friends buy a secondhand…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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John and Susan just opened saving accounts at two different banks. They each deposited $1000. John's bank pays simple interest at an annual rate of 10%, where as Susan's bank pays compound interest at annual rate of 9.5%. No interest will be taken out of the accounts for a period of three years. At the end of three years, whose balance will greater and bytes how much (to the nearest dollar)?
Fernando Jose would like to buy a cellphone payable for 6 months starting at the end of the month. How much is the cost of the cellphone if his monthly payment is P3.000 and interest is 9% compounded semi-annually? a. P17,545.08 b. P18,674.80 c. P20,000.00 |d. P21,785.45
it For pre nments Unit Activity: Credit Cards and Large Purchases Buying a House Bethany and Samuel are buying a new house. They have $25,000 saved for a down payment and know that they can afford a monthly payment of $1,500 or less. They also know that the best interest rate they can get is 5.1% annually and they want to sign a 30-year mortgage. Part A If 5.1% is the annual interest rate, what is the monthly interest rate? BI U X² X₂ V 田 15px- Space used (includes formatting): 0/ 15000 V V Part B If they sign a 30-year mortgage, how many monthly payments will they make? BIUX² X₂ 15px M くく EEEEE 6 of 7 E Dec 1 1:56 Save & Exit
2a. You decide to purchase a new touchscreen Chromebook. The price is listed at $499.99 but the salesperson tells you that everything in the store is 25% off today. What is the total price that you pay for the Chromebook (including 8% Tax)? 2b. You decide to take advantage of the store's payment plan. The payment plan's terms are as follows: 18 equal monthly payments, 6% interest, compounded monthly. a) What is the total cost that you will end up paying for
Your parents contribute $180 monthly to a college savings plan for you that earns 5.4% compounded monthly. The first deposit was exactly 18 years ago. Find the account balance immediately after today’s monthly deposit and crediting of interest. Question 17Select one: a. $65,975 b. $59,689 c. $45,589 d. $72,096 e. $69,456
(1)If compounding monthly, how would I find percent and intrest of a problem? (2) How do I compute if I paid $5 weekly for cofee and $175 monthly for food? What percentage of coffe did I pay over food? (3) suppose you start saving today for a $45,000 down payment that you plan to make on a house in 6 years. Assume you make no deposits in the account after initial deposit. For the account below, how much would you have to deposit now to reach $45000 in 6 years : an account with daily compounding and apr of 7%
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Peter has borrowed $8,600 to pay for his new car. The annual interest rate on the loan is 7.4 percent, and the loan needs to be repaid in four payments. What will be his annual payment if he begins his payment today now? (Round to the nearest dollar.) a. $2,850 b. $2,656 c. $2,385 d. $2,448
8. Frank bought a bicycle for $2700. He arranged to make a payment to the store at the end of every month for 2 years. His payment is $125 per month. a. What interest rate is the store charging? PV Рayment FV Rate(%) Periods Compounding b. How much interest has Frank paid at the end of the year on top of the $2700 for the bike

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