Question

As of August 27, 2020, the Philippines, through the Department of Finance has already borrowed $ 8.83 billion to fight against the health and socioeconomic crises inflicted by the COVD19 pandemic.

If payments were made at the rate of $1000 per second, how many many years would it take to pay off the debt, assuming no interest was charged?

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Finance

Loans

Related Finance Q&A

Find answers to questions asked by students like you.

Q: Peggy made a down payment of $400 toward the purchase of new furniture. To pay the balance of the pu...

A: Purchase price of the furniture is present value of monthly payments plus down payments 

Q: Find the value of a bond maturing in 10 ​years, with a ​$1,000 par value and a coupon interest rate ...

A: A financial instrument with a fixed cost that helps a company to raise funds for business operations...

Q: 1. A man has a loan of 50,000 in a bank that gives 12% simple interest. How much is the interest if ...

A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...

Q: What is a post-audit, why do firms use them, and what problems can arise when they are used?

A: Post Audit: It is a technique that is used for the evaluation of performance by comparing the actual...

Q: Pablo is a Portuguese resident employed by a Portuguese company. He is sent to Australia to work on ...

A: The Person P has a Residentship of Country P who was sent to the Country A for short-term project of...

Q: Pulaski Inc. wants to establish a new subsidiary in Colombia that will sell cell phones to Colombian...

A: Appreciation of currency refers to the increase in the value of the currency whereas depreciation re...

Q: The MARR used for a project’s acceptance or rejection is set relative to what cost?

A: MARR is a discount return which is the lowest rate of return that must be accepted in the project.

Q: How can the financial plan be used to help management provide guidance tosecurity analysts?

A: Financial plan is the strategy made for deciding how a company will manage to fulfill its goal and o...

Q: A pension fund manager is considering three mutual funds. The first is a stock fund, the second is a...

A: Given: Expected return of stock fund is 22% Expected return of bond fund is 14% Standard deviation o...

Q: Identify the symbols involved if a pharmaceutical company wants to have a liability fund worth $200 ...

A: Payment made regularly for each period is known as annuity. To calculate the present value of annuit...

Q: Julie Brown is in her late 20s. She is renting an apartment in the fashionable part of town for $1,2...

A: Please refer the working note in Step 2 Cost of Buying - $139625 Cost of Renting over investment @4%...

Q: A couple will retire in 40 years.   They plan to spend $50,000 of their savings each year, with the ...

A: Present value refers to the worth of the amount in current times that is expected to be received in ...

Q: If you purchase a 5-year, zero-coupon bond for $691.72, how much could it be sold for 3 years later ...

A: Zero coupon bonds are bonds which do not pay coupons and sold at discount to face value   

Q: Frantic Fast foods had earnings after taxes of $420,000 20XI with 309,00 shares outstanding. On Janu...

A: Formula for Earnings per share(EPS): EPS = Net income / Number of shares ---------------------------...

Q: Carol has a closed-end lease agreement in which the lessor has estimated that the value of the lease...

A: A closed-end agreement is a lease contract that, at the end of the agreement, places no responsibili...

Q: eBook Chapter 13Financial Planning Exercise 8Calculating mutual fund approximate rate of return A ye...

A: The net profit or loss on the investment over a particular time period is term as the rate of return...

Q: A construction company has an option to purchase a certain bulldozer for $61,000 at any time between...

A: Hey, since there are multiple questions posted, we will answer the first question. If you want any s...

Q: Hedging Translation Exposure Explain how a firm can hedge its translation exposure.

A: Exposure for translation occurs as MNC converts the financial details for consolidated financial sta...

Q: If the 3-month CD rate is 1.2% (annual) in Thailand and if the expected annual inflation is 5.7%, wh...

A: Real rate of return is the rate of return on n investment adjusted for inflation.    Real return = 1...

Q: CH 3 #10. Prepare a schedule showing that, with a rate of growth of 0.15 per year $1,000 will grow t...

A: Future value of the amount invested today is the worth after adding interest on the amount invested ...

Q: You have a balance of $400 on your credit card and make no more charges. Assume that the card carrie...

A: Balance amount =$400 APR =18%  Monthly rate = 0.18/12 =1.50% Time =6 months or 6 periods So, monthly...

Q: You are considering purchasing an investment contract that will eventually pay you $4000 per year at...

A: Price we should pay is present value of cash flows

Q: It has been shown that in the absence of taxes and other market imperfections, the firm value will b...

A:   1) This states about famous Miller & Modigilani Dividend irrelevance proposition . As per MM A...

Q: Effective Hedging of Translation Exposure Would a more established MNC or a less established MNC be ...

A: Translation exposure, also known as the accounting exposure, can be defined as the level at which a ...

Q: A fitness equipment manufacturer is capitalized with long-term debt, preferred stock and common stoc...

A: Weighted average cost of capital of the firm is calculated using the below equation. Here, After tax...

Q: A bank in Toronto charges 2.3% commission to buy and sell currencies. Assume that the current exchan...

A: Current exchange rate = US$1 = C$1.1152 Number of US dollars to be purchased = US$4000 Number of Can...

Q: If the APR of your credit card is 19% compounded monthly then what would be the effective interest r...

A: APR(Annual Percentage Rate) is interest earned or paid without considering compounding factor of int...

Q: Ten years ago, Ginny inherited $50,000 from her grandmother. She decided to invest all of this money...

A: Amount invested to earn return is known as investment. Investment offers two types of return. One is...

Q: Slippery Slope Roof's net cash flows are as follows: Year 1 =70,000; Year 2=60,000; Year 3=96,000. A...

A: The value of the firms refers to the addition of future net cash flow with the discount factor at pr...

Q: 1:  Mr. Able owns a parcel of land that a local farmer has offered to rent for the next 10 years.  T...

A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...

Q: In order to assess a company’s ability to fulfi ll its long-term obligations, an analyst wouldmost l...

A: Time to time the financial manager of the company is required to evaluate the short term as well as ...

Q: Home Automation is considering an investment of $500,000 in a new product line. The company will mak...

A: Calculating present value of cash inflows and deducting it from cash outflow gives the present value...

Q: Purchase Costs       Leasing Costs       Down payment $ 1,900   Security deposit $ 1,040   Loan ...

A: A contract in which terms and conditions are mentioned at which one party agrees to pay a regular am...

Q: A stock market analyst is able to identify mispriced stocks by comparing the average price for the l...

A: A stock market analyst is able to identify the stock market whether it follows the random walk or no...

Q: Quantitative Problem 2: Carlysle Corporation has perpetual preferred stock outstanding that pays a c...

A: Formulas: Cost of preferred stock = Dividend / Preferred stock price

Q: A proximity sensor attached to the tip of an endoscope could reduce risks during eye surgery by aler...

A: Given: Rate of interest (i)= 10% = 0.1 Amount saved in year 2 is $ 0.6 = $60,000 Amount saved in yea...

Q: This year the owner/founder of J&J Health allocated a total of $18 million to develop new treatm...

A: PAYBACK PERIOD A payback period refers to the number of years in which the initial cash outlay of th...

Q: What types of expenses would property owners pay when operating and maintaining common areas? Give e...

A: SOLUTION:- Common area is the area which benefits  all the tenants. The property owners have to pay ...

Q: You borrow $230,000; the annual loan payments are $20,430.31for 30 years. What interest rate are you...

A: An Annuity is a series of payments of fixed amounts and at fixed intervals. These can be of two type...

Q: Explain how a U.S. corporation could hedge net receivables in Malaysian ringgit with a forward contr...

A: A forward contract is an agreement to make or take delivery of a commodity, currency or other asset ...