If an entrepreneur applies for a loan amounting to ₱ 500,000 in a bank, the simple interest of which is ₱ 157,500 for 3 years, what interest rate is being charged?
Q: Reya paid Php 9,250 on a loan made 6 months before at 12% simple interest. Find the interest…
A: Simple interest is simple interest without any compounding that means no interest on interest…
Q: 3). On May 8, 2015, Mrs. Siega borrowed Php 100,000 from Mr. Singh at 6% payable in 90 days. If the…
A: The present value of a cash flow is the present worth of a cash flow at a certain rate of interest…
Q: our business requests a 3-month loan for $500,000. What will be the interest paid at the end of the…
A: LIBOR stands for London Interbank Offered Rate. It is the benchmark rate at which all major global…
Q: A person borrows $3,000 on a bank credit card at a nominal rate of 18% per year, which is actually…
A: Loan is the value which is borrowed from the other sources like banks and this amount repaid later…
Q: 2.A person got a loan of 200.000 € from Bank A at 12 % annual interest rate. The bond will be repaid…
A: Amortization table: It is the schedule showing repayment of the loan amount that includes principal…
Q: 1.Miss Esther Grey borrowed P70,000.00 at 16.8% simple interest. How much will she pay at the end of…
A: "Hi, Thanks for the Question. Since you asked multiple questions, we will answer first three…
Q: a man borrowed P2000.000 from a bank and promised to pay the amount for 1 year. He received only the…
A: We can calculate interest rate by using simple interest formula Simple interest =Principal*Rate*Time
Q: A man borrowed RM1200 for 5 months and was charged 9% simple interest. How much interest did he…
A: The amount of interest earned can be calculated with the help of simple interest function
Q: 3. For the purchase of a car worth 1,060,000 pesos, the bank requires a minimum amount of 15% down…
A: Here, Worth of Car is 1,060,000 Minimum Down Payment is 15% Note: We are solving Ques No. 3 as…
Q: You have Php. 100,000 to be deposited in a bank that offers compounding interest of 3%. What is the…
A: A study that proves that the future worth of the money is lower than its current value due to…
Q: 2. Janica received a loan from her bank for Php 4,085 for a period of one year. The interest rate is…
A: Interest on Loan: The expense of borrowing money is represented by interest. When loan disbursements…
Q: Suppose you purchase a home and secure a loan for $165,000. If the bank charges a fee of 3 points,…
A: Points can be defined as the percentage of an amount that is to be paid to the bank, In the above…
Q: A bank offers a 12% interest to be compounded annually. How much should a teacher deposit now if he…
A: Present value is the value of future cash flows discounted at a specified interest rate for a…
Q: Mr. Dalisay applied for a bank loan with a principal of P150,000 to be paid after five years in…
A: The amount of proceedings will be discouraged value of money today of future principal amount to be…
Q: A lending institution charges its client Php1,008,000 on a loan of Php1.6m for 5 years and 3 months.…
A: Given: Interest amount = Php1,008,000 Loan amount = Php1600,000 Time period = 5 years and 3 months
Q: A business promises to pay the investor of $2,000 today for a payment of $500 in one year's time,…
A: We need to use the concept of time value of money to solve the question. According to the concept of…
Q: Jassim is a Credit Officer with Riffa Bank and is working on structuring a loan facility for his…
A: Rate of return is expressed in percentage term that refers to the minimum return on the amount…
Q: What amount must be deposited by a 20-year old student in a bank that pays 5% compunded anually so…
A: Solution: Desired future value = P100,000 Period = 10 years Interest rate = 5%
Q: An employee obtained a loan of P100,000.00 at the rate of 6% compounded annually in order to build a…
A: The series of monthly payments is a form of annuity wherein an equal amount is paid every month.
Q: A woman places Php 50,000.00 in an account. During the first 5 years, the bank pays 5% interest per…
A: Amount invested (P) = Php 50000 r = 5% for first 5 years, 5.5% for next 5 years
Q: Engr. Tongol borrowed money from a loan shark. He receives from the loan shark an amount of P…
A: Simple interest = Amount borrowed * Interest rate * (Number of months / 12)
Q: A local financing bank granted a car loan to a man who agreed to pay a rate of interest of 25%.…
A: This question is based on deep discount loans where interest is charged upfront at the time sanction…
Q: Suppose you are a relationship manager at an international bank. A customer who recently got…
A: To create the amortization table, first we will have to find the EMI. To find the EMI, we will use…
Q: You have a 2-year certificte of deposit in the bank. It is paying 6% annual interest, compounded…
A: Certificate of Deposit (COD) is a definite term deposit facility which provides higher interest than…
Q: A man borrowed P300,000 from a bank and agreed to pay the loan at the end of a month. The bank…
A: Maturity amount (F) = P 300,000 Net proceeds (P) = P 250,000 Period (n) = 1 Month = 1/12 Year
Q: What is the total amount of money to be paid back at the end of 3 years for the loan of 175 000 lira…
A: Using excel FV function
Q: In 2018, a businessman borrowed Php500 000.00 at a 10% interest rate, payable for 1 year for a new…
A: Polya devised four steps for solving a particular problem. They are, The very first step is to…
Q: A businessman borrowed Php2,500,000 for 5 years at 5.5% simple interest. What amount must he pay at…
A: Simple Interest = Principal * Interest * time Simple Interest = Php 2,500,000 * 5.5% * 5 Simple…
Q: 1.Jude borrowed money from the bank.He received Php 18,000 & promised to pay Php 22,750 at the end…
A: Solution:- Given, 1). Received money = Php 18,000 Promised to pay = Php 22,750
Q: 1. A bank loan of Php1,900 is discounted at 11 % . If the loan is due in 120 days, how much is the…
A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…
Q: As Kate borrowed an amount of 15,000 Php from a lending company that charges a simple interest rate…
A: Borrowed amount = 15000 Php Simple interest rate = 11%
Q: Compute for the total interest and amount to be received or paid at the end of the term for each…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: A businessman loaned P500,000 from a local bank that charges an interest rate of 12% compounded…
A: Time value of money :— According to this concept, value of present money is greater than value of…
Q: A man borrows money from a bank which uses a simple discount rate of 14%. He signs a promissory note…
A: “Since you have asked multiple questions, we will solve the one question for you. If you want any…
Q: A man borrowed Php 8000 from RCBC and agreed to pay the loan at the end of 9 months. The bank…
A: AMount borrowed is Php 8000 Time period is 9 months Amount received after discount is Php 5000 To…
Q: 1. An employee obtained a loan of P1,000,000 at the rate of 6% compounded annually in order to build…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: On May 8, 2015, Mrs. Siega borrowed php 100,000 from Mr. Singh at 6% payable in 90 days. If the…
A: The present value of an amount received in the future stems from the concept of the time value of…
Q: A man borrowed P18,400.00 from a credit union that charges 8% simple interest for 1 year and 9…
A: Total months = 12 + 9 = 21 months
Q: A customer has to pay an amount (principal + interest) of PhP 32,230 as a pay a personal loan at the…
A: Today value of money required will be that loan without interest.
Q: Mr. Pat Met invested in a bank having an annual payment of Php at a 4% annual interest rate. a. How…
A: Future value of money is amount deposited and the interest accumulated over the period of time of…
Q: An employee obtained a loan of P10,000,000 at the rate of 6% compounded annually in order to build a…
A: In finance, a loan is a sum of money that is borrowed by a borrower from a lender with a specific…
Q: A guy deposited P4,000, P4,500 and P5,000 at the end of the 2nd year, 3rd year and 4th year,…
A: Year 2 deposit = P4000 Year 3 deposit = P4500 Year 4 deposit = P5000 Interest rate = 0.09
Q: Mr. Santos started to deposit Php 3,500 monthly in his online bank that pays 5% compounded quarterly…
A: Interest rate = 5% quarterly compounded We need to find the monthly interest rate as the deposits…
Q: ught a low-cost terrace house for RM35,000. He pa was borrowed from bank that charged interest a .…
A: Mortgages loan are paid by the monthly instalments that carry monthly payments of loans and…
Q: A man borrowed Php 6,000 from a bank and agreed to pay the loan at the end of 10 months. The bank…
A: An interest rate is the percentage of a loaned value that a lender owes the borrower as interest,…
Q: Bank A pays 4% interest compounded annually on deposits, while Bank B pays 3.5% compounded daily. a.…
A: Effective Annual Rate is the equivalent interest rate for nominal rate which is compounded multiple…
Q: A man borrows money from a bank which uses a simple discount rate of 14%. He signs a promissory note…
A: A promissory note refers to a financial instrument which contains a promise that one party will pay…
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- A man borrowed Php 6,000 from a bank and agreed to pay the loan at the end of 10 months. The bank discounted the loan and gave him P4,800 in cash. (a) What was the rate of discount? (b) What was the rate of interest? (c) What was the rate of interest for one year?13. In 2022, Mr. Sun Ho was charged interest expense on a business related loan in the amount of PHP 60,000. His interest income on bank account with BPI is PHP 720. How much is the deductible interest expense? a. None b. PHP 59,856 c. PHP 144 d. PHP 60,000Zara 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?
- Marlon borrowed 15,000 Php from a lending company that charges a simple interest rate of 11%. Identify the simple interest after 1 year and What is the total amount that must be paid after 1 year?Reya paid Php 9,250 on a loan made 6 months before at 12% simple interest. Find the interest generated.What is the rate of interest?What is the future value?What is the term of the loan?What is the principal in the problem?A lending institution charges its client Php1,008,000 on a loan of Php1.6m for 5 years and 3 months. What simple interest rate is applied?
- 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?Mr. Dalisay applied for a bank loan with a principal of P150,000 to be paid after five years in order to purchase a vehicle. He negotiated for the stated rate of the loan at 6% wherein the current market rate is 10%. How much proceeds will Mr. Dalisay receive from the bankA woman borrows K^(80000) to start a business. The bank charges 20% for the duration of the loan repayment period. How much would she pay per month if she is to repay the loan in two years?
- Engr. De Robles borrowed Php 10,000 from a bank and promised to pay the amount for 1 year. But he received Php 9,600 only after the bank deducted an advance interest of Php 400. Find a) the rate of discount and b) the rate of interest that the bank charged him.As Kate borrowed an amount of 15,000 Php from a lending company that charges a simple interest rate of 11%. What is the rate of interest? and What is the initial or principal amount?In order to start a small business, Samy borrowed RM40, 000 from a bank. The loan is repaid by monthly installment for five years. The interest charged is 5% on the original balance. (a) Determine the monthly payment. (b) Immediately after paying for three years and six months, he decided to pay off the loan. Using the Rule of 78, calculate the amount he has to pay.
