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A: A sinking fund can be referred to as a type of fund specially created to pay off the debts.…
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A: Principal (P) = RM500,000 Interest rate (r) = 12% Compensating balance (c) = 15%
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A: A method of computing interest amounts in which the compounding effect was not considered by the…
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A: Quarterly payment (P) = PHP 50,000 First payment period = 2 Years First payment period in quarters…
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A: Note: Since here nothing is being mentioned about the nature of interest, it is assumed to be…
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Q: determine the lump-sum amount to be paid at the end of the loan period.
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A:
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A: Here, Quarterly Payment is 13,500 Php Payment started at the end of 4 years for 3 years Interest…
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A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…
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A: Given:
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- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383Pickles R Us is a pickle farm located in the Northeast. The following transactions take place: A. On November 6, Pickles borrows $820,000 from a bank to cover the initial cost of expansion. Terms of the loan are payment due in six months from November 6, and annual interest rate of 3%. B. On December 12, Pickles borrows an additional $200,000 with payment due in three months from December 12, and an annual interest rate of 10%. C. Pickles pays its accounts in full on March 12, for the December 12 loan, and on May 6 for the November 6 loan. Record the journal entries to recognize the initial borrowings, and the two payments for Pickles.Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600
- Zara Corporation borrowed RM100,000 from their bank for one year. The bank required the company to pay RM9,500 in interest at the end of the year plus maintain a minimum balance of RM10,000 with the bank in a chequing account throughout the year. What is the effective interest rate on this loan?A business loan of PhP 650,000 is to be settled by paying PhP 29,994.20 monthly in 2 years. If the interest rate is 10% converted monthly, how much is the outstanding balance after 6 payments?A lending company charged its client P2,750 on a loan of P15,800 for 2 years and 3 months. What simple interest rate is the company using?
- A man borrows Php10,000 from a loan firm. The rate of simple interest is 15%, but the interest is to be deducted from the loan at the time the money is borrowed. At the end of one year he has to pay back Php10,000. What is the actual rate of interest?East Side Bank offers the following effective rates on 5-year loans: 8% for the first two years, 10% for the third year, 11% for the fourth year, and 12% on the fifth year. If Php. 500 000.00 is borrowed, determine the lump-sum amount to be paid at the end of the loan period.A businessman wishes to borrow an amount of K4 million for a term of 3 years.The agreed rate of interest is 10% per annum effective for the first 2 years, and 6%per annum effective for the final year.Repayments on the loan are made annually in arrears.The amount of the level annual repayment is K1,590,328.58.(i) Draw up the loan schedule for the full three-year period.(ii) Calculate what percentage of the loan has been repaid by the end of year 2.(iii) Explain how this percentage figure would alter if the rate of interest had insteadbeen 6% for the first two years and 10% for the final year.
- You get a twenty-year amortized loan of Php100,000 with a 5% annual interest rate. What are the annual payments? a. Php 8,718 B. Php37,689 C. Php 4,762 d.Php 8,02415000 php was loaned from a bank. The choices below show four possible borrowing schemes that the bank offers to repay the loan. Which of the following is the best scheme that offers minimal interest charge? a. quarterly installement of 1,960.35 php for 2 years b. 1.5% interest rate compunded monthly, payable for 3 years c. semi-annual amortization equivalent to 3,844.22 php, payable for 24 months d. 05% interest rate compunded anually, payable after 5 yearsA business loan of P1,000,000 is to be repaid in full after 5 years. What is the amount to be paid if the effective rate of interest is 10% a. 1,150,165 b. 1,165,000 c. 1,165,526 d. 1,610,510