What is the interest of the amount barrowed by Mr. Carlo if he is paying Php 19,734 every three months at an interest of 5% compounded quarterly and he agreed to pay the loan in 4 years and 6 months? Round off the answer to the nearest whole number. O Php 38,885 O Php 36,378 O Php 37,631 O Php 35,127

Q: Jim takes out a PHP 350,000 bank loan and plans to pay it off in 36 monthly payments. The first…

A: Solution:- When an amount is taken as loan, it is either to be repaid as lump sum payment or in…

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: Mr mdlalose starts his own business and takes out a loan of R450 000 He repays the loan in four…

A: Given information Loan amount = R450,000 Time Period = 4 years  Interest rate =10% p.a compounded…

Q: 1. anim bought a flat for RM56,000, and get financing for 90% of the value, at 3.55% p.a., and the…

A: In excel. Flat Price 56,000.00         Loan to Value ratio 90%         Loan AMount 50,400.00…

Q: Mr. Santos borrowed a certain amount from Bank A with an interest of 5% compounded quarterly and he…

A: EMI = P × r × (1 + r)n((1 + r)n-1) where, P= Loan Amount r= Interest rate n= tenure

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: Ben borrowed PHP 1,300,000 from a finance company that charges interest at 16% compounded…

A: Loan amount (PV) = PHP 1,300,000 Interest rate = 16% Semi annual interest rate (r) = 16%/2 = 8%…

Q: 1. Find the amount due at the end of 6 34 yrs if Php5,000 is invested at 12% compounded quarterly.

A: Formula: FV = P (1+r/m)tm where, FV = Future Value P = Principal Investment r = Rate of Interest m =…

Q: 2. Janica received a loan from her bank for Php 4,085 for a period of one year. The interest rate is…

A: Interest on Loan: The expense of borrowing money is represented by interest. When loan disbursements…

Q: Corey received a $36,750 loan from a bank that was charging interest at 3.50% compounded…

A: We need to use loan amortization formula below to calculate semi-annual payment.  where P=Loan…

Q: Calex applied for a business loan of Php 750,000, to be repaid in monthly installments of Php…

A: We need to use NPER function in excel to calculate number of monthly payments.  The formula is…

Q: A contractor took out a loan from a certain bank in an amount that could be repaid over four years…

A: Loans are paid by the annual payments that carry the payment for interest and payment for loan also.

Q: Mr. Subito borrowed Php 4605 from a bank, which he will repay Php 5000 at the end of 10 months. In…

A: Given: Borrowed amount = Php 4,605 Future value = Php 5,000 Number of months = 10 months 6 months…

Q: 3. Rasid buys a house for RM185,000. He pays a 10% down payment and the balance is borrowed from a…

A: Time value of money (TVM) refers to the concept which proves that the value of money today is higher…

Q: P15,000 P20,000

A: In simple interest there is no interest on interest and there is no compounding of interest and this…

Q: a) Peter wishes to purchase a motor vehicle from a dealer in Johannesburg for R150 000. His bank,…

A: We will use excel function 'PMT' to find the monthly payment for the loan. as shown in the above…

Q: A man borrowed K6,000 a 7% and agrees to pay back by making equal payments at end of every month for…

A: Amortization schedule: A table that details the regular payments for an amortizing debt is called an…

Q: An employee obtained a loan of P100,000.00 at the rate of 6% compounded annually in order to build a…

A: The series of monthly payments is a form of annuity wherein an equal amount is paid every month.

Q: The owner of a small business borrowed $50,000 today with an agreement to repay the loan with equal…

A: Compound = Monthly = 12Present Value = pv = $50,000Time = t = 10 * 12 = 120Interest Rate = r = 24 /…

Q: A man borrowed P 150,000.00 from the bank payable on the 1st day of every month for 2 years. If he…

A: An interest rate is a rate that is the cost of borrowing money.

Q: Niles needs £650,000 to set up his business. Bank A is willing to lend him the money under the…

A: The amortization schedule refers to the breakdown of payments of a loan. It is used by borrowers to…

Q: Arif has to pay RM 200 at the beginning of each month for 36 months to settle a loan at 12%…

A: Original amount of loan means the principal amount which is being taken by the borrower from the…

Q: tained a loan from the bank worth P 400,000.00 payable within 4 years from the time the loan was…

A: The given problem can be solved using PMT function in excel. PMT function computes installment…

Q: A person requested a personal loan from the bank and owes 2,500,000 pesos, which he has to pay at 9%…

A: Loans are paid by equal monthly payments that carry payment for interest and payment for loan also.

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: At the end of every 3 months, Sam deposits $150 into an account that pays 6% compounded quarterly.…

A: Investors invest in particular securities with an expectation of receiving some gains in future. The…

Q: You borrowed $200,000 from the Bank of Nova Scotia. The loan is to be repaid at the end of five (5)…

A: Loan Amortization Schedule is a schedule made for loan repayment to know about the repayments and…

Q: A debtor owes Ryan the following sums, due without interest: Php 1000 due at the end of 2 years and…

A: To solve this question we first need to discount both the payments to PV using the formula below: PV…

Q: married couple decided to buy a brand-new car. The of the loan is P 500,000. They plan to amortize…

A: Monthly amortization refers to the desired sum of the monthly payment for a fixed time of period…

Q: A man borrows S195,500 from a bank with interest at 7% compounded annually. e agrees to pay his…

A: Loan Amount= $195500 Rate of Interest (r) = 7% Amount payable at the end of 10 years…

Q: Luis Rivera has taken out a mortgage loan for $225,000 at 4% for 5 years. What will be the total…

A: A mortgage is a type of loan that is typically used to purchase real estate, such as a house or a…

Q: b) Starting from 1* October 2020 with a fresh bank account, Chong save RM25 into the bank account…

A: Future value is the worth of the current amount in some specified future date at given interest…

Q: Miguel had a loan of $56,000 and made payments of $3,250 at the end of every three months to settle…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: Laura received a 15 year loan of $240,000 to purchase a house. The interest rate or the loan was…

A: Data given: Loan=$240000  r=4% (compounded semi-annually) N=15 year nper=15*12=180     Working Note…

Q: What is the interest paid by Victor on Php 35,000.00 that he borrowed for 2 years at 15% simple…

A: Interest: It refers to the monetary charge on the mortgage or loan borrowed by the borrower from…

Q: Tom Bond borrowed $6,600 at 6-% for three years compounded annually. What is the compound amount of…

A: An interest rate method in which current interest is computed by multiplying the interest rate by…

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.