Determine the ordinary and exact simple interest on P5,000.00 for the period of January 15 to June 20, 1993 (not a leap year), if the rate of simple interest is 14%
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Determine the ordinary and exact simple interest on P5,000.00 for the period of January 15 to June 20, 1993 (not a leap year), if the rate of simple interest is 14%
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- Determine the ordinary simple interest on P10,000.00 for 9 months and 10 days if the rate of interest is 12%.Your rich uncle has just offered you to make you wealthy! For every amount you save in an insured bank account during the next 10 years, he will give you the total amount (excluding interest) that you saved to match it. Because your modest income permits you to save P2,000 per month for the next 10 years, your uncle will be willing to give you 240,000 at the end of the 10th year. If you desire a total of P1,00,000 10 years from now, what effective interest rate would you have to earn on your insured bank account to make your goal possible?Assume that 25 years ago your dad invested $300,000, plus $34,000 in years 2 through 5, and $49,000 per year from year 6 on. Determine the annual retirement amount that he can withdraw forever starting next year (year 26), if the $49,000 annuity stopped at year 25. The interest rate being 10% per year. The annual retirement amount is determined to be $
- If P25,000 is invested now, P35,000 two years from now, and P45,000 four years from now (all at 4%), what will be the total amount in ten years?Suppose that P400 is deposited each year into a bank account that pays 8% interest annually. If 12 payments are made into the account, How much would be accumulated in this fund by the end of the 12th year? The first payment occurs at time zero (now)Determine the exact simple interest on P5,000 for the period from Jan 15 to Nov 28, 1992 if the rate of interest is 22%. If you borrowed money from your friend with simple interest of 12%, find the present worth of P50,000 which is due at the end of 7 months. A loan company charges 15% simple interest on P500 loan. How much will be repaid if the loan is paid back in one lump sum after 3 years? The exact simple interest of P5000 invested from June 21, 1995 to December25, 1995 is P100. What is the rate of interest? What is the ordinary interest on P1500.50 for 182 days at 5.2%? Five thousand pesos invested at a certain interest rate compounded semi-annually become twenty thousand pesos after ten years. How much will it become at the end of fifteen years? How long or how many years would an amount of money invested at 10% compounded annually becomes doubled? By the conditions of a will, the sum of P20,000 is left to a girl to be held in a trust fund by her…
- What is the annual interest rate if P265 is earned in four months on an investment of P15000??Determine the ordinary and exact simple interests on Php 20,000 for the period from January 15 to June 20, 2019, if the rate of simple interest is 14%.A student plans to deposit P1,500 in the bank now and another P3,000 for the next two years. If he plans to withdraw P5,000 three years from after his last deposit for the purpose of buying shoes, what will be the amount of money left in the bank after one year of his withdrawal? The effective annual rate of interest is 10%.
- Determine the exact and ordinary simple interests on ₱1,200 for the period from January 16 to November 26, 1992, if the rate of interest is 24%.a law firm has contracted their client to make the following payment, based on the following schedule of payments; P10,000 immediately, P1,000 at the end of year one, P1,500 at the end of year two, P2,000 at the end of year three, P2,500 at the end of year four, and P3,000 at the end of year five. what fixed amount of money should the company plan to set aside each year at 8% per year compounded annually to make the payments? show your complete solution.What lump sum amount of interest will be paid on a P1,000,000 loan that was made on August 1, 1993, and repaid on November 1, 1999, with ordinary simple interest at 12% per year?