Which of the following statement is correct?

Q: Mohammed received a housing loan of RO 50,000 from Bank Sohar, Nizwa Soug branch on 1st January,…

A: Given: Housing loan is Ro 50,000 Date 1st January 2020 Installment monthly

Q: Higuel owes $650 in 3 years and $1500 in 8 years. However, Miguel is unable to meet his $650…

A: In case of simple interest, the interest amount is charged only on the principal amount.   This is…

Q: Ram had borrowed certain sum of Rs.1,20,000/- from Shyam for which he had executed some documents.…

A: Promissory Note -  A promissory note is a debt instrument, Which contain a written promise to pay to…

Q: Mae purchased a home for ₱4,570,000 and obtained a 20-year loan with an annual interest rate of…

A: Given Information : Cost of home = 4,570,000 pesos Period of loan = 20 years Annual interest rate =…

Q: per annum rate of simple interest?

A: Interest is earned on principal invested for a given time at a predetermined rate. However, many…

Q: Gavin and Holly purchased a $665,000 condominium in Toronto. They paid 20% of the amount as a down…

A: A loan is a financial contract in which one party, frequently a lender or financial institution,…

Q: ed to borrow at 15% nominal from Krowley Kash-pit. Loan conditions were: monthly compounding, and y…

A: In this we need to calculate monthly payment first and than find out the quarterly payment.

Q: Marilyn Ho borrowed $24,000 from Stewart Financial Enterprises. She was required to make sixteen…

A: As per the given information:To determine:The price that Brady Investment Corporation paid Stewart…

Q: What is the value of this obligation two years before it is due to a man to whom money is worth…

A: Note: Since you have asked multiple questions, we will solve the first question for you. If you want…

Q: John borrows 10,000 from Tony and agrees to repay the loan with 10 equal annual installments of…

A: Borrowed amount = $10,000Rate on unpaid balance = 5%Number of annual payments = 10 Rate charged for…

Q: Irene’s Home credit was approved. She will be borrowing ₱55,000 but abiding by the rules she will…

A: Amortization of Loan Amount: An amortized loan is one in which the borrower is required to make…

Q: Stefan finished his college program on June 3 with Canada Student Loans totalling $12,490. He…

A: A loan is an agreement in which one party borrows funds, assets, or any other kind of resource from…

Q: Mr. Anton received two offers for the old equipment he is selling. Mr. Brando will pay P6,500 in…

A: Payment by Mr Brando P 6,500 Down payment by Mr Castilla P 1,000 Monthly payments by Mr.…

Q: The Bautistas sign a mortgage for $50,000 to be amortized over 20 years with a term of 5 years at…

A: A mortgage is a kind of loan wherein the borrower acquires funds from the lender by entering into a…

Q: Lawrence signs a note promising to pay Justin $2500 at 11.25% compounded monthly in 7 years.…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: (a) What is the value of the CD when it matures? $ (b) Three months before the CD was due to mature,…

A: Simple interest is quite simple and there is no interest on interest and used for period less than…

Q: 3. Joe Burrow loans Kenyan Drake $400,000. Burrow accepts a 5% note, which requires quarterly…

A: Bonds are a representation of a promise to pay interest, typically every two years, and to repay the…

Q: Gavin and Holly purchased a $640,000 condominium in Toronto. They paid 20% of the amount as a down…

A: Equivalent Monthly Payment: It is a fixed payment to a lender   by a borrower on a specified date of…

Q: Trinidad has a mortgage of $900,000 through the Scotiabank for a vacation property. The mortgage is…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: Bilbo Baggins borrows $19,000 cash from Gandalf the Grey In exchange, Bilbo signs an installment…

A: Period Ending Beginning Balance Cash Interest Expense Debit Note Payable Credit Cash Ending Balance…

Q: Edward borrowed an amount to his friend and promised to pay the principal amount and accumulated…

A: Let the amount borrowed be "x" Simple rate = 15.118% Amount paid at the end of 3 years = P15.855.…

Q: Bozo owes $5000 due in one year and $7,000 due in seven years. Unfortunately Bozo is unable to meet…

A: Loans are financial arrangements wherein one party lends funds to another with the expectation of…

Q: Fahrin received a 100-day promissory note on 17th june 2008 with simple interest rate of 5% per…

A: Fahrin discounted the note after 40 days, which is of the note's term of 100 days. Therefore, t=0.4…

Q: Jack purchased $1,000 from his credit card and his bank, RBC, suggests installment on each purchase…

A: Emi stands for "Equated Monthly Installment." It's a fixed amount of money that a borrower pays to a…

Q: Payment Balance Date Annual before Interest Transaction Rate Number Interest Accrued of Days Charged…

A: Annual Interest rate 6.5%Payment = 2500Initial Balance = 13750

Q: What is the amount of income to be reported upon receipt of the note? At the end of the taxable…

A: Non-interest bearing note is the note which a company receives from the debtors in against the money…

Q: Sean purchased an interest-bearing promissory note for $11,000.00 at 5.00% p.a., due in 90 days. If…

A: The promissory note refers to a debt instrument that is issued by a person who writes a note by…

Q: Kevin received a $1800 bonus. He decided to invest it in a 3-year certificate of deposit (CD) with…

A: In the given question we require to calculate the future value of investment after 3 years and…

Q: Zoey signs a note to repay $10,000.00 plus 8% interest in 1 year. Four months before the note is…

A: Zoey'took debt for a value of $10,000 which he needs to repay with 8% interest. Here, we need to…

Q: Ahmed Yehda borrowed $8,000, signing a promissory note for 2.5 years at 15% interest. What was the…

A: Promissory note is one of the ways to borrow the amount for a particular period and specific amount…

Q: Arnold purchased a note from Sylvester for $4300. The note will mature in 240 days, and bears 0.065…

A: Simple interest is the interest calculated on the principal and it is not compounded. The borrower…

Q: Eugene is offered a 5% discount for immediate payment of a bill which is due in 90 days. What is the…

A: Simple interest rate is the rate which is calculated without taking any compounding frequency.

Q: Dave owes $40,000, due with accumulated interest at the rate (.06, m = 4) at the end of 5 years and…

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: nterest-only loan​ (regular interest payments each year and principal at​ maturity).  Chuck Ponzi…

A: An interest-only loan is a type of loan in which the borrower is required to make payments only on…

Q: Interest-only loan (regular interest payments each year and principal at maturity). Chuck Ponzi has…

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

Q: Bea Cruz signed a promissory note with a term of 3 years. The principle was $12,800 with interest at…

A: Promissory Note: It is a debt instrument that comprises a written commitment by one party (the…

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.