If the principal of Php 2,500.00 earns interests of Php 185.00 in 4 years and 8 months, what interests rate is in effect? Solve comprehensively.
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If the principal of Php 2,500.00 earns interests of Php 185.00 in 4 years and 8 months, what interests rate is in effect? Solve comprehensively.
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- Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $8,264.70 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.Mohammed LLC is a growing consulting firm. The following transactions take place during the current year. A. On June 10, Mohammed borrows $270,000 from a bank to cover the initial cost of expansion. Terms of the loan are payment due in four months from June 10, and annual interest rate of 5%. B. On July 9, Mohammed borrows an additional $100,000 with payment due in four months from July 9, and an annual interest rate of 12%. C. Mohammed pays their accounts in full on October 10 for the June 10 loan, and on November 9 for the July 9 loan. Record the journal entries to recognize the initial borrowings, and the two payments for Mohammed.
- On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10% interest rate. Each annual payment is in the amount of $39,569 and payment is due each Dec. 31. What is the journal entry on Jan. 1 to record the cash received and on Dec. 31 to record the annual payment? (You will need to prepare the first row in the amortization table to determine the amounts.)If the principal of Php 2,500.00 earns interests of Php 185.00 in 4 years and 8 months, whatinterests rate is in effect?A man owes Php 15,000 with interest at 8% payable semi-annually. Equal payments at the beginning of each 6 months for 4 years will discharge his debt? What is the Outstanding principal at the beginning of the period 3. (Hint: Construct an amortization schedule.) a.Php 15,253.465 b.Php 12,345.678 c.Php 13,265.735 d.Php 11,229.855
- A debtor owes Php 22,000 due at the end of 2 years. He asks his creditors for the privilege of payingthe debt immediately. At what simple interest, 6% or 8%, would the creditor prefer to compute therequired present value, and how much would he gain by the better choice?A man owes Php 10,000 with interest at 8% payable semi-annually. Payments are at the beginning of each 6 months for 3 years will discharge his debt. What will be outstanding principal at the beginning of the 6th period? Hint: Construct an amortization schedule. Php 1,763.701 Php 3,543.643 Php 1,987.898 Php 2,567.675An employee obtained a loan of P11,000 at the rate of 7% compounded annually in order to build a house. The amortization is to be monthly within a period of 1 year? What will be outstanding principal at the beginning of the 8th period? schedule. Hint: Construct an amortization Php 4,543.456 Php 4,673.724 Php 5,345.234 Php 6,786.353
- A woman places Php 50,000.00 in an account. During the first 5 years, the bank pays 5% interest per annum compounded continuously. Another 5 years, the bank pays 5.5% interest per annum compounded continuously. In that period of time, how much will the woman have?Mina borrowed Php 10,000 from a financing institution which agreed to charge an annual simple interest r. Suppose after 36 months, Mina paid a total of Php11,500. What is the value of r in percent? Choices: - 10% - 5% - 4% - 2%A man deposited Php 20,000 in a savings bank that pays 4 ½% compounded semi-annually for 2 years and 6 months. What is the compound amount at the end of the term?
