2. Emma availed of a cash loan that gave her an option to pay P10,000 monthly for 1 year. The first payment is due after 6 months. How much is the present value of the loan if the interest rate is 12% converted monthly?
Q: Suppose on January 1 you deposit $1000 in an account that pays a nominal, or quoted, interest rate…
A: Future value is the value of an asset that grows after a specific period of time. The future value…
Q: Suppose you want to borrow $20,000 for a new car. You can borrow at 8% per year, compounded monthly…
A: Amount to borrow= $20,000 Interest rate= 8% per year, compounded monthly (0.6667% per month) Time…
Q: Suppose you borrow 11,000 for 5 years at 6% towards the purchase of a car. What would be the monthly…
A: The computation of monthly payments:Hence, the monthly payment is 212.66.
Q: b._ You want to have GH¢ 50,000 in your savings account five years from now, and you’re prepared to…
A: Future value of annuity = P * ([1 + I]N - 1 )/I where P is the payment amount. I is equal to the…
Q: You invest $ 1.000 in a bank account to buy a house at annual interest rate 14 per year, compounded…
A: Present Value (Investment in bank)= $1,000 Annual Interest rate (r)= 14% per year compounded monthly…
Q: If you borrow $2800 and agree to repay the loan in 5 equal annual payments at an interest rate of…
A: Using excel PMT function to calculate the yearly payment
Q: A woman wants to borrow $10,742 in order to buy a car. She wants to repay the loan by monthly…
A: Formula EMI = PV/[1-(1+R)-N]/R Where EMI - Equal monthly instalment PV - Loan amount i.e. $10,742 R…
Q: 1. If money is worth 5% compounded quarterly, how much must Julea save every end of three months to…
A: Here we will use the concept of time value of money. As per the concept of time value of money it is…
Q: Suppose you have three personal loans outstanding to your friend Elizabeth. A payment of $1,000 is…
A: To Find: Annual percentage rate Monthly payment Note:- As method of Calculation is not given, I…
Q: You borrow $5000 at 10% per year and will pay off the loan in 3 equal annual payments starting one…
A: Calculation of Payment at the end of Year 2:The interest payment is $348.94 and principal payment is…
Q: Suppose that you borrow $8,000 now, promising to repay the loan principal plus accumulated interest…
A: The future value of an amount is the future worth of an amount calculated based on the time value…
Q: Engr. Odon is paying a loan five thousand pesos 4% quarterly for 3 years. If the payment is to start…
A: present value of annuity: pva=A×1-11+rmm×nrm where, A=annuity r=rate of interest m=frequency of…
Q: a) i) Ali is paying off a loan by making $50 payments at the end of every month for 2 years, at 6%,…
A: Loan is a borrowed amount taken for the purpose of completing the shortage of funds. When an…
Q: a. A consumer loan worth ₱75,000 is to be repaid in two years at 6% compounded monthly. What is the…
A: a) Loan (L) = P 75000 n = 2 years = 24 months r = 6% per annum = 0.5% per month Let A = Monthly…
Q: You borrow $11,000 and promise to make payments of $3,359.50 at the end of each year for 5 years.…
A: The question gives the following information:
Q: If I will loan a house and lot worth P6.3M cash and with a little discussion and transaction with…
A: In this question the monthly payment needs to be calculated and the future worth of the overall…
Q: If you borrow $2,200 and agree to repay the loan in five equal annual payments at an interest rate…
A: Loan means lending money by one or more individuals or organizations to other individuals or…
Q: Arabella converted her loan to light payments which gives her an option to pay 12,000 every 2 years…
A: Present Value of annuity refers to the today's value of cash flows of a series of equal cash flows…
Q: You buy a house and finance $250,000 at 4% per year. One loan is 30 years (360 monthly рayments) and…
A: Monthly payments is calculated by present value of annuity formula. r is annual percentage rate and…
Q: A man can save 10,000 per month for 2years, If the bank offers 5% compounded monthly, what is n?
A: The present value is the value of the sum received at time 0 or the current period. It is the value…
Q: To help finance the purchase of a house and lot, a couple borrows P350,000. The loan is to be repaid…
A: Given Information : Amount borrowed = P350,000 Number of years = 8 Annual interest rate = 15%
Q: Beatrice takes out a 7 year loan of $5000. The interest rate is 4.5%. What are Beatrice's monthly…
A: In order to find the monthly payment one can use excel and in excel use PMT function.
Q: William got a second loan for 78,000 dlls to be payable in 5 years with interest rate of 7.5 percent…
A: Loan amount (PV) = 78000 Period = 5 Years Number of monthly payments (N) = 5*12 = 60 Annual interest…
Q: Assume that you have purchased a new car and after your down payment, you borrowed $10,000 from a…
A: Monthly payment can be calculated using the present vale of annuity formula. Present value of…
Q: Olive converted her loan to light payments which gives her an option to pay P1,500 every quarterly…
A: Present value is the present worth of any sum of a money to be received in the future at a specified…
Q: If Ms Chan is thinking of putting RM10,000 into the saving accounts at the end of each year for 10…
A: The annual deposit is RM10,000. The maturity is 10 years. The interest rate is 8%.
Q: You deposit $500 each month into an account earning 3% interest compounded monthly. Round to the…
A: We need to use future value of annuity formula to calculate money in account after 25 years Future…
Q: A man borrowed P400,000 from a lending institution which will be paid after 10 years at an interest…
A: Compounding is a process where the investor or trader pays interest on interest. In this, the…
Q: Suppose that you buy a car costing $14,000. You agree to make payments at the end of each monthly…
A: The payments made to purchase this car is a form of an annuity. Thus, the value of each payment can…
Q: Barbara wants to accumulate $10000 by the end of 10 years. She starts making quarterly deposits in…
A: Annuity refers to series of equalized payments that are either made start or end of definite…
Q: A student wants to save up for a car, assuming that he/she would be able to save up a certain sum…
A: Given information, Time Period = 4 years*12 =48 periods (when period is monthly) Future Value of…
Q: Find the simple interest on a loan of P65,000 if the loan is given at a rate of20% and is due in 3…
A: 1. Calculate the simple interest by the simple interest formula. Where 'P' refers to the principal…
Q: You are paid £4,000 annually for 6 years, with the first payment due in one year and the last…
A: Annual payment (P) = £4,000 Number of annual payments (n) = 6 Interest rate (r) = 2%
Q: Suppose you get a student loan for $8,000, and your payments are deferred until after you graduate,…
A: Present value of Annuity is the current value of payments made over a specified period of time at a…
Q: Kim's savings may allow her to withdraw P50,000.00 semi annually for 5 years starting at the end of…
A: An annuity is a financial term that depicts a series of cash flow occurring at an equal time…
Q: Suppose you borrow $10,000 from your parents to buy a car. You agree to pay $208 per month for 48…
A: Here the monthly payment is a annuity and we need to find the interest rate given the following:…
Q: Solve the given problem. A. Mrs. Ledesma apply for a loan for the renovation of their house. She…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: You decide to finance a $21,000.00 car at a 4% interest rate for 4 years. A. How much will your…
A: Car cost ,P =$21,000 Interest Rate, r= 4%=0.04/12= 0.003333333333 Years,n = 4 or 48 months Formula…
Q: Solve the given problem. A. Mrs. Ledesma apply for a loan for the renovation of their house. She…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Brendon Walsh wants to borrow $30,000 from the bank. The interest rate is 6% and the term is for 5…
A: A loan is an agreement between two parties where an amount is exchanged in return for future…
Q: You have accepted a loan in an amount of $15,000 for your new car. You have agreed to pay the loan…
A: Here, Loan Amount is $15,000 Time Period is 4 years Interest Rate is : 9% 6% 7% 8% Compounding…
Q: Barbara wants to accumulate $25000 by the end of 4 years. She starts making quarterly deposits in…
A: We need to use this equation for quarterly payment(PMT) and future value(FV) of annuity PMT…
Q: What is the compound amount when $6400 is deposited in an account earning an interest rate of 6%,…
A: Because you have posted multiple questions, we will answer the first question only, For the…
Q: 4. Cloy availed a cash loan that gave him an option to pay P10,000 monthly for one year. The first…
A: PV annuity due=C×((1-(1+i)^(-n))/i)×(1+i)C=Cash flow per period i=Interest raten=Number of payments…
Q: Sabel converted her loan to light payments which give her an option to pay PHP1,500 every quarter…
A: Answer: Calculation of the amount of the loan: Given: Quarterly payment (P) = PHP1,500 Number of…
Q: How much will your monthly payment? My payment will be a month $_______. B. By the end of the loan…
A: Loan: It refers to the credit taken by the borrower from the lender. The borrower makes periodic…
I DONT NEED HANDWRITTEN ANSWER
GIVE TYPED ANSWER WITH TABLE PLEEEEEEEAAAAAAAASSSSSSSEEEEEEE
Step by step
Solved in 2 steps
- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?To purchase an iMac Pro which is listed $6,299.00 online, Lisa is now depositing $300 to her saving account every 6 months after she has saved $5500. If the interest rate is 6% p.a. compounded semi-monthly, how soon can she purchase the iMac Pro? Step 1. Fill in blanks – the values: mpmt = __________ , j = __________, mi = __________, i = __________ PMT = __________, PV = __________, FV = __________ Step 2. Formula and Calculation:2. Say you purchase a computer for $1300 at 7% interest and want to have it paid off in 48 months. Use the simple interest formula. a) Calculate the monthly payment necessary to pay off the principal and the interest. b) Calculate the APR. Write out the formula first to show your work.
- With the given information please confirm if my calculations for how many years it will take to pay off this loan are correct. I need to use excel formulas. Amoutn of loan: 50,000 annual payment 10,000 interest rate: 8% I used the NPER function on excell and my answer was 6.64 years, is this correct?solve the following showing all workings in microsoft word It is now January 1, 2018 you plan to make deposits of $500 each, one every 6 months, with the first payment being made today . if the bank pays a nominal interest rate of 12% but uses semi annual compounding, how much will be in your account after 10 years? Billy Dilly started working with bns as a sales rep and is tyring to catch up on having money for retirement. bns offers him a pension plan with an annuity thst is guaranteed to earn 7% interest compounded semi annually he paln to work for 10 years before retiring and would like to draw an income of $90'000 per annum for 15 years. how much must be deposited per annum into his retirement fund to accomplish thisUse an excel spreadsheet to show steops to solve the following : You buy a house of $450,000 today. You put a down payment of 20% and borrow a fixed-rate mortgage of $360,000 with interest rate of 4% and 15 years. After 3 years, your house is appreciated to the value of $550,000 and market interest rate goes up to 6.5%. How much money will you make in book after 3 years?
- Given a loan amount P, an annual interest rate r, and the length of the loan in years, find the monthly payment R necessary to pay off the loan by completing parts a through c. Represent the number of monthly payments by n. Amount Rate Time $50,000 5% 20 years Question content area bottom Part 1 a. Calculate P1+r12n and call this number A. A=enter your response here (Round to two decimal places as needed.) Part 2 b. Calculate 1+r12n−1r12 and call this number B. B=enter your response here (Round to two decimal places as needed.) Part 3 c. Let R = AB. The monthly payment necessary to pay off the loan is R=$enter your response here. (Round up to the nearest cent.)Please provide the steps to solving this problem using a financial calculator: You just opened a brokerage account, depositing $3,500. You expect the account to earn an interest rate of 9.652%. You also plan on depositing $4,500 at the end of years 5 through 10. What will be the value of the account at the end of 20 years, assuming you earn your expected rate of return?Solved Manually. Taylor Swift, a college student of USeP decides to get a student loan amounting to $4000 with an annual interest rate of 5% compounded monthly. If Tay-Tay makes a monthly payment of $250, how much does she owe after four months?
- Subject: Mathematics in the Modern World (MMW) - Ms. Althea Jordao purchases a home worth Php 1,200,000 with a down payment of 15%. Then she loan the balance from the bank that charges 7.5% annual interest to be paid for 20 years. a. What must be the amount of the mortgage loan? b. What is the monthly mortgage payment? c. How much is the amount of interest paid on the loan over 20 years?Use the PMT function in Excel to compute the monthly payment on a home each month if you borrowed 770,000 at an annual interest rate 5.82% over 30 years, where the interest is compounded monthly. Fv and type are not necessary ignore them. Please I don’t have excel, I could really use the help.Jessica Jones intention to make a loan from the Citibank to buy property in Edinburgh. Citibank offered her monthly interest rate: 0.8%. She could pay back of £300,000 in 7 years. If you were her banker, please build up for her payment schedule with the clear breakdown in term of interest payment and principal payment in every period by using Goal Seek and IPMT function.
