Q: A credit union pays 7.7% annual interest compounded daly. What deposit today (present value) would…
A: Here the compounding is daily. We need to find the effective annual rate (EAR) first and then solve…
Q: Bank D gives a loan of RM 30,000 to Shahril with interest rate of 8.25% compounded quarterly.…
A: Compound amount of single sum can be calculated by using this equation A=P(1+r)n Where A= Final…
Q: Find the payment necessary to amortize a 5.5% loan of $7700 compounded semiannually, with 6…
A: The annuity is the amount that is paid every period to amortize the loan which includes the interest…
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A: Interest means the extra amount which we received because of investment made and will be paid in…
Q: If a borrower repays RM 11430 at the end of two years, which includes RM 2430 interest at a rate of…
A: Repayment amount = RM 11430 Interest amount = RM 2430 Interest rate = 13.5%
Q: 7 - What is the total amount of money to be repaid at the end of 10 years for a loan of 200 000 lira…
A: In this question we need to compute the Future value of the loan taken today worth 200000 lira
Q: Please show all equations and work as needed. Make the correct answer clear. If possible, please…
A: The computation of net amount is as follows:Hence, the net amount of funds from the loan is $511560.…
Q: simple interest The interest on a loan of P 2,500 is P 165.00 . If the rate of interest is 6 %,…
A: The time on the loan can be calculated with the help of simple interest equation
Q: An amount of P14,000 is borrowed at a discount rate of 10%, find the proceeds if the length of the…
A: Par value = P14000 Discount rate = 10% Period = 180 Days
Q: An ordinary simple interest rate of 8.5% per year is applied on a Php 50,000.00 loan made on July 1,…
A: Here the interest is simple interest rate and hence there is no compounding.
Q: 3.The lender charge P348.00 for a loan of P3,500.00 for 2 2 year. Determine the rate of interest.…
A: Simple interest is the product of the principal amount , rate and the time.
Q: Example 6 A person requires a loan of R10 000. The bank offers a simple interest rate of 15% p.a..…
A: Lets understand the basics. For calculating loan period we will need to use below formula. Interest…
Q: What is the simple interest due on a 15 days loan of P65,000.00 if the annual rate is 4%.
A: Given: Principal (P)= 65000 Rate (R) = 4% = 0.04 Time (T) = 15 days
Q: n of P 2,000.00 was made at 8% simple interest. How long would it take in years for the amount of…
A: Simple interest is interest without compounding that means no interest on interest and only interest…
Q: What is the PV of an annuity due with 5 payments of Php2,400 at an interest rate of 5.5%? A.…
A: The present value of an anticipated sum of money or stream of cash flows, with a specified rate of…
Q: A. P=$4,500, r=.06, t=4 years. Interest ?
A: As posted multiple independent questions we are answering only first question kindly repost the…
Q: 3. A man deposited P5,000 in a bank at a rate of 10% per annum for 8months and 25days. Find the…
A: Given: Deposit = 5,000 Bank rate = 10% Period = 8 months 25 days
Q: (Refer to this word problem ) The accumulated value of a 3-month loan of P5,000 is P5,085. What is…
A: Loan amount = P5000 Accumulated value = P5085 Interest amount = 5085-5000 = P85 Period = 3 Months =…
Q: original
A: Formula to calculate the loan amount is: PV = FV/(1+i)^n Where PV is the present value FV is the…
Q: You plan to borrow P10,000 from your bank, which offers to lend you the money at a 7.5% nominal rate…
A: Nominal rate (D)= 7.5% Borrowed amount = P10,000
Q: Hanzalah took a loan of RMx from Bank ABC at interest rate of 4.5% compounded monthly. After 10…
A: A loan is a debt amount borrowed by one person from another person at a pre-determined interest…
Q: 1. What single payment made immediately will settle the following credit card obligations, if money…
A: The present value of the amount represents the current value of the future cash flows. The…
Q: prainary payments of P1, 000 if interest rate is 1: annually. A P15,257.90 B P33,567.21
A: Ordinary annuities are a series of equal payments made at the end of each period for a specific time…
Q: What would the loan payment amount and the interest payed for Kevan’s loan be if the PV=8500,…
A: The term loan payment amount refers to the total amount paid by an individual to pay off the loan…
Q: how much would you need to pay annually to pay off a $5,000 loan at 4% with equal payments over 4…
A: The equal payment is the payment that has to be paid for over the period to settle the borrowed…
Q: Hanzalah took a loan of RMY from Bank ABC at interest rate of 4.5% compounded monthly.After 10…
A: We need to use compound interest formula to solve this formula A=P(1+i)n Where A=Final payment…
Q: What will be the compounded amount on a loan of P1.500 at 12% interest compounded quarterly for I…
A: Loan amount (PV) = P 1500 Annual interest rate = 12% Quarterly interest rate (R) = 12%/4 = 3% Period…
Q: The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's…
A: The simple interest is computed on the loan amount for the time period the loan was due. It does not…
Q: Calculate the simple interest due on a 3-month loan of P 1400.00 if the interest rate is 7.5%
A: Simple Interest : The simple interest is calculated by using the following formula & information…
Q: (Refer to this word problem The accumulated value of a 3-month loan of P5,000 is P5,085. What is the…
A: Principal (P) = P 5000 Accumulated value (F) = P 5085 n = 3 months = 0.25 years Let r = Simple…
Q: You decide to originate the loan, but move at the end of 5 years. What is the remaining balance you…
A: Loan Amount $ 3,00,000.00 Time Period 30 Years Interest Rate 7.20%
Q: A loan with a nominal value of ($3000) payable after (250) days. The debtor paid the amount before…
A: The discount rate is the interest rate which is charged to commercial banks and other institution…
Q: A lending company charged its client P2,750 on a loan of P15,800 for 2 years and 3 months. What…
A: The rate of interest charged can be calculated with the help of simple interest function
Q: settled her loan on 18 May 2021 by paying RM7134.17. Find: a) the term of the loan. b) the interest…
A: The term of the loan can be computed as follows : Calculations for above :
Q: 9. Marissa took a loan of RMY from Bank Perpaduan at interest rate of 6.5% compounded every two…
A: The formula for compound interest is: A=P(1+rn)nt A is the final amountP is the initial principal…
Q: 2. Find the amount (in $) of interest on the loan
A: Interest: It is the monetary charge paid to the lender by the borrower for taking a loan. Interest…
Q: Use exact interest method to find rate of interest on a loan of $9000 for 354 days if amount of…
A: Given Loan Amount 9000 Number of days 354 Amount of Interest 489.5 Method of interest…
Q: The interest on a loan of R2 000 to be repaid
A: Interest refers to the amount charged by the lender on the lent amount. The borrower of the loan is…
Q: asssuming that the interest is the only finance charge, how much interest would be paid on 5,000…
A: The question is based on the concept of Loan and amortization.
Q: What amount should be paid on the maturity date to settle a one-hundred-twenty day loan dated March…
A: Interest = Principal * rate * time Interest = 15600 * 13.2857% * 120/365 Interest = 681.39
Q: A $42,000 loan is repaid with semiannual payments of $5,000. What is the $4,125.09 $4.227.79…
A: Here, To Find: Size of the last payment =?
Q: How much is the loan amount if you need to borrow $350,000 for one year with 9% single payment…
A: Given: Need to borrow = $350,000 Compensating balance = 15% Interest rate = 9%
Q: 3. A debt of P3,500 is to be amortized by 6 equal semiannual payments with interest at 6%compounded…
A: Debt amount (PV) = P 3500 Number of semi-annual payments (n) = 6 Interest rate = 6% Semi annual…
Q: How much was the amount of the original loan? Regular Payment Rate of Compound Interest per Year…
A: Regular Payment amount is $1575 payable semi annually Rate of interest is 5.4% compounded…
Q: 2. A loan of $94028.12 is repaid by monthly payments of $625.75. The interest rate charged is 5.1%…
A: Loan amount (PV) = $ 94028.12 Monthly payment (P) = $ 625.75 Annual interest rate = 5.1% Monthly…
Q: What are the annual payments necessary to pay a $1,000,000, 12-year loan if the loan rate is 8 %?…
A: Annual payment necessary to pay off the loan is calculated with the help of present value of annuity…
Q: A loan was made 3 years and 8 months ago at 7.5% simple interest. The principal amount of the loan…
A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…
Q: The principal is borrowed and the loans future value A at the time t is given. Determine the loans…
A: Given: P (Present value)=3000A(Future value)=3495t=3 years
Q: 4. A loan was made 3 years and 4 months at 12% simple interest rate. The principal amount of loan…
A: Present value is the sum of money of future cash flows today whereas future value is the value of…
Q: If you are to pay P 3,000.00 for a debt made 2 months ago at the rate of 7% simple interest, what…
A: Simple Interest is the method in which we calculate the interest on a specific principal amount at a…
Step by step
Solved in 4 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?Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments of 166.10? What is the APR on this loan?You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.
- Gifts Galore Inc. borrowed 1.5 million from National City Bank. The loan was made at a simple annual interest rate of 9% a year for 3 months. A 20% compensating balance requirement raised the effective interest rate. a. The nominal annual rate on the loan was 11.25%. What is the true effective rate? b. What would be the effective cost of the loan if the note required discount interest? c. What would be the nominal annual interest rate on the loan if the bank did not require a compensating balance but required repayment in three equal monthly installments?1. How long will it take for your P18,000 to be doubled if invested at 3% simple interest? 2. The repayment on a loan was P18,720. If the loan was for 18 months at 10% interest a year, how much was the principal?1. If you want to borrow K150,000 which of the following banks should you select? Explain clearly with necessary calculation. (i) Bank A requires quarterly repayments of K12,872.96 at the end of each quarter over 4 years. (ii) Bank B requires a total repayment of K276,360 at the end of 5 years.
- What would be r in this problem? A P100,000 loan is to be paid monthly for 2 years with an interest rate of 10% annually compounded semi-annually. * a. 0.83% b. 0.41% c. 1.2% d. 0.81%2. Mr. Dizon borrowed P35,000.00 from the cooperative bank. Find the simple interest if it is to be paid after 5 months with an interest rate of 1.50 %per month.What is the effective interest rate charged to a loan of P5,000 paid after 5 years amounting to P7,250? What is the nominal rate if it is compounded semi-annually? upload your solution with signature sifan ?
- Suppose you borrow $15,000 and then repay the loan by making 12 monthly payments of $1,297.92 each. What rate will you be quoted on the loan? NO EXCELA loan for P 50,000 is to be paid in 3 years at the amount of P65,000. What is the effective rate of money?. You get a 25-year loan of Php150,000 with a 8% annual interest rate. What are the annual payments? Php14,052 Php 2,052 Php13,965 D. Php13,427