1. A mother borrowed P200,000 with 2% interest monthly and promised to pay the amount by 30 equal monthly installments which will start at the beginning of each period. Determine the monthly payment. (10 pts) a. P7,855.0 b. P 5,875.0 c. P 5,587.0 d. P 8,755.0
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- Suppose that under the Plan of Repayment one should pay off the debt in a number of equal end-of-month installments (principal and interest). This is the customary way to pay off loans on automobiles, house mortgages, etc. A friend of yours has financed $15,000 on the purchase of a new automobile, and the annual interest rate is 6% (0.5% per month). a. Monthly payments over a 36-month loan period will be how much? b. How much interest and principal will be paid within three month of this loan? Click the icon to view the interest and annuity table for discrete compounding when i = 0.5% per month. a. The monthly payment over a 36-month loan period is $ 456.3. (Round to the nearest cent.) b. Fill in the table below. (Round to the nearest cent.) Payment Number 1 2 3 Interest Payment $ $ $ Principal Repayment $ $ $ Remaining Loan Balance $ $ $7. Sarah borrows some money to buy a new car. The car dealership allows her to defer payments for 12 months, and Sarah makes 60 end of month payments thereafter. If the original loan is $15321 and interest is 0.75% per month, how much will Sarah's monthly payment be? • $697 $627 $349 $279 $41826. On May 1, 1950, M deposited $100 in a savings account which pays 3% compounded semiannually and continued to make similar deposits every six months thereafter. After May 1, 1962, the bank paid 4% compounded semiannually. How much will be to his credit just after the deposit on November 1, 1970? Hint. 100.01s (1.02) + 100 00
- Show the steps of your calculation O For example, question: a person deposits $500 to bank now, if the annual interest rate is 8%, what will be the worth of this deposit after 3 years? You need to write down F = P (F/P, i, n) – 500 (F/P, 8%, 3) memSuppose a certain manufacturer deposits $3, 000 at the beginning of each 3 month period for 8 years in an account paying 8% interest compounded quarterly. (Round your answers to the nearest cent.) (a) How much (in $) will be in the account at the end of the 8 year period? $ Incorrect: Your answer is incorrect. (b) What is the total amount (in $) of interest earned in this account? $ Incorrect: Your answer is incorrectWith cashflow diagram. An individual makes six annual deposits in a savings account starting one year from now that pays interest at a rate of 10% compounded annually and after the last deposit the interest rate changed to 12% per year compounded annually. Ten years after his last deposit he made a withdrawal $7,000 per year for 8 years from his account. How much would be the six annual deposits? a) 1451 b)1625 c)1738 d)1911
- Mr. Reyes borrows P600,000 at 12% compounded annually agreeing to pay the loan in 15 equal annual payments. How much of the original principal is still unpaid after he has made the 8th payment? Include the cashflow diagram. Ans: P 402,040allie has won a lottery that pays her $135,000 at the end of this year and increases by 11.25% per year thereafter for 26 years. leon has offered allie $ 2,500,000 today in exchange for all the money she will receive. if gail can get 13% per year compounded every 6 months. a. determine the present worth of the lottery winnings. b. does leon offer a good deal? (yes/no) c. what is the future worth of the better deal?A lathe for a machine shop costs 60,000 if paid in cash. On the installment plan, Engr. Dela Cruz should pay 20,000 down payment and 10 quarterly installments, the first due at the end of the first year after purchase. A.) What type of annuity is the installment plan?B.) If money is worth 15% compounded quarterly, determine the quarterly installments.
- 2) Given : F-P 80, 000 0 i- 2% N= 3 yrs/ 36months A- F(A(F, i9; A- 80,000 ( AIF , 2%. , 3Gmonths) A: 80,000( .01923) %3D A-PIS38.4 Consider the situation in problem # 2, aside from saving, you also have a monthly expenses of 5,800 pesos. Create a cash flow diagram and make analysis as to how much cash will you need to cover all the expenses including the savings. No need to convert into yearly, just show atleast 5 months and a dash line for the last month.4) You collect rent from your tenant at the beginning of each month. Rent is $1250 in the first year, and then rent for each subsequent year is 2% larger than the previous year's rent. If you invest each month's rent (immediately after you get rent) into an account earning 4% effective annual interest then find the accumulated value after 30 years.Use Table 12-2 to solve. Analysts at Sky West Airlines did a 3 year projection of expenses. They calculated that the company will need $15,300 at the beginning of each 6 month period to buy fuel, oil, lube, and parts for aircraft operations and maintenance. Sky West can get 4% interest compounded semiannually from its bank. How much (in $) should Sky West deposit now to support the next 3 years of operations and maintenance expenses? (Round your answer to the nearest cent.) $ %24