. A father borrows P10,000 for the enrolment of his son in college last August. He agrees to pay the principal and interest by paying a certain sum every month for 4 months. Find his monthly payment if he pays 9% interest compounded monthly.

Q: Jim Hopper plans to place his money in a certificate of deposit that matures in three months. The…

A: A certificate of deposit is a fixed income instrument issued by banks and credit unions. Interest…

Q: Daniel deposits $20,000 into an account earning interest at 6% per year compounded quarterly. He…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: Ar. Rosales deposits P75,000 at the end of each month in a bank which pays 9% compounded month ho…

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

Q: Andrew Bolkonsky borrows $200,000 to purchase a house for investment purposes on January 1st 2006.…

A: The concept of present value states that a sum of money is worth today more than the same sum of…

Q: Elin purchased a used car for $15,000. She wrote a check for $3000 as a down payment for the car and…

A: Equated monthly installment or EMI is referred to as the amount that are paid in monthly basis…

Q: Justin is financing S169,600 for a home at 5.25% interest with a 25-year fixed-rate loan. Find the…

A: Using excel pmt function

Q: Taylor Swift, a college student of USEP decides to get a student loan amounting to $4,000 with an…

A: Amortized Loan:  Amortized loan is a type of loan in which the borrower would pay periodic payments…

Q: Nicole loans P900,000 from bank today which gives her 10% interest rate compounded annually. Based…

A: Loan amount (L) = P 900000 r = 10% n = 10 payments Let the annual payment = A

Q: Kris borrows some money in her senior year to buy a new car. The car dealership allows her to defer…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: Mark has a credit card balance of $25,000. The annual est rate is 17%. He is required to pay a…

A: Data given: Credit card balance= $25000 Annual interest  rate = 17% Minimum payment = 3.5% of…

Q: Grace borrowed P150,000 payable in 2 years. To repay the loan, she must pay an amount every month…

A: The PMT function is a type of financial function which helps to determine the total monthly payment…

Q: Mr. Smith has borrowed $20,000 from the bank to start his small book-keeping business. He has…

A: Using excel RATE function

Q: Sam Robinson borrowed $10,000 from a friend and promised to pay the loan in 10 equal annual…

A:

Q: Jean borrowed $3600 from the bank in order to buy a new piano. She will pay it off by equal payments…

A: Interest-  The monetary payment for the privilege of borrowing money is known as interest, and it is…

Q: Joseph received a loan of $40,000 from the bank at 4.25% compounded monthly. If she had to repay…

A: Mortgage/ Borrowings:  Borrowings are the loans taken by an individual, from banks or non-banking…

Q: Jessica borrowed $3300 from the bank in order to buy a new piano. She will pay it off by equal…

A: To calculate the weekly installment we have to use the proportionate interest rate and period…

Q: Gilbert got a loan of P100,000 from a local lending agency at 13% compounded annually. Their…

A: Here, Loan Amount is P100,000 Interest Rate is 13% Time Period is 5 years Each successive payment is…

Q: Suppose that Jacob would like to invest at the end of each month for the next 15 years into an…

A: Ordinary Annuity refers to series of equalized payments that are made at end of period for certain…

Q: effrey deposits $406.00 every month into his son's RESP for the next fifteen years unti his son goes…

A: Future value of deposit includes the amount being deposited and compounding interest accumulated…

Q: Starting on July 1, 2000, Peter borrows $8,400.00 each year for 4 years from his dear Aunt May to…

A: Loan amount = $8,4000 Time period = 4 years Interest = 9% compounded semi-annually  Installment = 20…

Q: Ken is paying P2,500 every 3 months for the amount he borrowed at an interest rate of 8% compounded…

A: Answer: Calculation of the amount that Ken borrowed: The amount that Ken borrowed will be equal to…

Q: Mr. Park plans to loan 500,000 from a bank to replace his old equipment. The bank approved him the…

A: Here, Loan Amount is 500,000 Interest Rate (r) is 15% Compounding Period (m) is Monthly i.e 12 Time…

Q: William recently graduated from NFA University. While at NFA, William took out 4-23 a $50,000…

A:

Q: Larry has decided to take out a loan for college. He expects to graduate 5 years and 6 months later…

A: Interest rate is the rate of interest earned/paid on an investment/loan. The interest will be paid…

Q: Calvin Johnson has a ​$5,000 debt balance on his Visa card that charges 13.8 percent APR compounded…

A: Data given: Debit balance =$5000 APR compounded monthly =13.8% /12 = 0.0115 a) Minimum monthly…

Q: If Marc obtained a business loan of $225,000 at 4.77% compounded semi-annually, how much should he…

A: Solution:- When a loan is taken, it is either paid back in lump sum mode or installments. In…

Q: Akbar has borrowed $48,000 today and agreed to repay it in 5 years with monthly payments at the…

A: Given information: Amount borrowed is $48,000 Interest rate is 2.60% Number of years is 5 years

Q: Jackson has a loan that requires a $16,600 lump sum payment at the end of four years. The interest…

A: The amount borrowed today can be computed using the present value function.

Q: Helen is buying a $12,375 car with a $3000 down payment, followed by 36 monthly payments of $325…

A: Given data; Price of car = $ 12,375 down payment = $ 3000 number of payments = 36 monthly payment =…

Q: Mrs. Carter deposits P 100 in the bank at the end of each month. If the bank pays 6 % per year…

A: Monthly deposit (P) = P100 Interest rate = 6% e = 2.7182818284590452353602874713527 Monthly interest…

Q: Sam's family has decided that they will start depositing $100 at the end of every month into a…

A: Monthly Deposit = 100 End of month deposits Time Period =  3 years or 36 months Interest Rate = 4.6%…

Q: A student borrowed P50,000 she he was freshmen in college to finance his education expenses. He is…

A: Loan amount (PV) = P50,000 Interest rate (r) = 10% Period (n) = 5 Years

Q: A father decides to invest k300 each month at 12% per year compounded monthly to pay for his 12 year…

A: Data given: pmt= k 300 r=12% (compounded monthly) n=17-12 =5 years

Q: Kris borrows some money in her senior year to buy a new car. The car dealership allows her to defer…

A: A deferred annuity is the annuity plan under which payment is accumulated for a certain period and…

Q: Samuel Ng received a 3-year subsidized student loan of $15,000 at an annual interest rate of 4%.…

A: Given that: Loan Amount (A)= $15000 Time(t)= 3 years Number of payments per year (n)= 12 Annual…

Q: Mary, a college student, needs to borrow $8,000 today for her tuition. She agrees to pay back the…

A: Initial amount is $8,000, Number of years is 4, Interest rate is 3.85%

Q: a) Find Kareem's monhly payment b) If Kareem pays the monthly payment for each month for the full…

A: Loan (mortgage) amortization schedule refers to a schedule which is prepared to shows the periodic…

Q: Mason owes $6,700 on his credit card. The bank charges an annual interest rate of 12%, compounded…

A: Amount owes by Mason $6,700 Interest Rate (12% /12) 1% Period  13

Q: Theresa borrowed $7258.00 compounded monthly to help finance her education. She contracted to repay…

A: Given:

Q: Morgan received a $29,050 loan from a bank that was charging interest at 3.25% compounded…

A: Loan is the value or an amount which is borrowed from other sources like banks for a finite period…

Q: Joe is settling his debt by paying P50,000 at the beginning of every 6 months for 3 years. If the…

A: Semi annual payment = P 50,000 Period = 3 Years Number of semi annual payments = 3*2 = 6 Annual…

Q: A self employed individual, Jimmy Carpenter, is opening a retirement account at a bank. His goal is…

A:

Q: Jason received a 10-year non-subsidized loan of $40,000 at an annual interest rate of 6%. What are…

A: Loan amount refers to the amount that is borrowed by the borrower for fixed time period at fixed…

Q: Mr smith wants to borrow P100,000 from a bank to rebuild his shop from damages caused by an…

A: First we need to calculate size of quarterly payment of loan amount. PMT =PV*i1-1(1+i)n where PV…

Q: Calvin Johnson has a ​$6,000 debt balance on his Visa card that charges 11.1 percent APR…

A: Data given: Debit balance on Visa card= $6000 APR (compounded monthly) = 11.1% i) Minimum monthly…

Q: Calvin Johnson has a ​$5,500 debt balance on his Visa card that charges 12.2 percent APR compounded…

A: Given that: Interest rate = 12.2% annually periodic payment (pmt)=$220 present value= $5500 future…

Q: This month you want to give your son $500.00 to help pay for University. You plan to make these…

A: In finance, a series of cash flows at equal time intervals for a specific period is known as an…

Q: Cathy borrowed $24,000 to buy a new car and expects to pay $400 per month for the next 3 years to…

A: Compound interest is also interest on interest that is the interest which is accumulated on the…