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- (6) A loan of $20,000 is to be repaid in uniform monthly payments over 3 years. If the interest in 9% per year compounded monthly, what is the amount of unpaid las principal after 24 monthly payments?27. A businessman borrowed P300,000 and agrees to discharge his obligation by paying a series of 8 equal payments of P 57,434.78 the first being due at the end of 5 ½ years. Find the rate of interest he is paying if it is compounded semi-annually.What would be the selling price of a 10-year bond with a face value of 100000, interest at 20% which is paid quaterly if an investor desires to earn a 16% nominal interest on 100000 worth of these bonds?
- Calculate the finance charge on a home equity loan based on an average daily balance of $97,552 during a 30-day billing period. The lender charges 5.75% interest and calculates interest based on a daily periodic rate. Assume a 365-day year and round the daily periodic rate to 8 decimal places.economics A debt of P100,000 is to be discharged by six (6) semi-annual payments, the first to be made 18 months after the loan is given. The debt will be discharged by 3 equal payments each of P20,000 and by 3 other equal payments of such amount that the final payment will liquidate the debt. a.] If interest is 12% compounded semi-annually, what is the amount of the last 3 payments? b.]. If he was unable to pay 4th and 5th amortization, how much is theprincipal at the beginning of the 6th period?The term of a lease contract are as follows: Annual lease = ₱ 1.50M, first payment upon start of thelease, annual lease increase by 10% each year for 4 years. A single lump sum payment is acceptable atthe start of the lease based on an interest rate of 14 % compounded annually. Find the amount of thislump sum.
- 1a) Jane and John have found a house, which owing to a depressed real estate market costs only $201,500. They will put $22,000 down and finance the remainder with a 30-year mortgage loan of 4.65% compounded monthly. i. How much will their monthly loan payment be? ii. How much interest will they pay in the second payment? 1b.) They will also have the following expenses: property taxes of $2,100, homeowner's insurance of $1,625, and $290 mortgage insurance (in case on of them dies before the loan is repaid, a requirement from the bank). These annual amounts are paid in 12 installments and are added to the loan payment. What will their full monthly cost be? i.) If they can afford $1200 a month, can they afford the house?5. Mr. Jo needs P 4,000,000 immediately to pay for a new home. Having insufficientfund for this, he borrows P 2,000,000 from an insurance company and repay the loanevery six months for 15 years, the first payment being at the end of 8 years from now.If the insurance company charged him 8% compounded semiannually, how much isthe amount of each payment?! Pls answer !bartleby = 3 max questions 1. If the proceeds of P 2000 will be paid w/ P2400 at the end of 10 months, find the discount rate. 2. At certain interest rate compounded quarterly, an amount worth P8000 will be P20000 after 5 yrs. How much would it be at the end of 10 years? 3. For a deposit of $1023 at 7.8 % interest compounded continuously over 4 years, find the interest earned?
- 11. What is the value of the bank account at the end of 25 years if the initial deposit is $25,000 at a rate of interest of 7% per annum.Hadeel borrows money in the senior year to buy a new car. The car dealership allows to defer payments for 12 months, and Hadeel makes 36 end of month payments thereafter. If the original loan is $24,000 and interest rate is 0.5% per month on the unpaid balance, how much will Hadeel payments be? $698.80 $774.62 $620.65 $700.56 detailed answer without usage of excel9 - What is the total amount of money to be repaid at the end of 1 year for a loan of 190 000 liras drawn from the bank for housing needs with a compound interest of 15% per year?A) 218 500B) 220 000C) 225 000D) 235 000E) 215 000