Jianne invested Php 50,000 in a friend's business with a definite annual interest rate of 4%. How much is her money's worth after 3 years? what if the interest rate of 4% is compounded quarterly, how much will she get after years?

Q: Suppose James will have $25,000.00 for a down payment on a house in 6 years. How much would he have…

A: The question is based on the concept of future value calculation of an investment with a monthly…

Q: Alex invested $10,500 in an account that pays 6 percent simple interest. How much money will he have…

A: Simple interest is the method of calculating interest on the amount of investment. A fixed amount is…

Q: A housewife bought a brand new washing machine costing P12,000 if paid in cash. However, she can…

A: Present value of annuity due can be used to calculate the periodic payment.

Q: Muaz will need $130,000 in 4 years to buy a piece of property. He plans to save money by making…

A:

Q: Hanna invests $8400 for 8 years and 10 months. The account earns 5% semiannually. What is n for the…

A: Basic Details: Investment = $8400 Time = 8 Years and 10 Months Interest = 5% semi Annually

Q: Maria saves ​$32 at the end of each week and deposits the money in an account paying 12%…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: Daryl Yap invested the amount of Php100,000 in a bank that offers 15 % per annum simple interest.…

A:

Q: Rachael invests $8000 for 7 years and 8 months. The account earns 12% semiannually. A) What is n…

A: Future value of present sum depends on whether it is simple interest or compounded…

Q: Jungkook purchased a new car under these terms: 800,000 php downpayment and 17,500 php each month…

A: Cash price is the price that will include the downpayment plus the present value of the loan.

Q: Hanna invests $8400 for 8 years and 10 months. The account earns 5% semiannually. a) What is n for…

A: Basic Details: 1. Investment = $8400 2. Time = 8 years and 10 Months 3. Interest rate = 5 %…

Q: Ruby loaned 500,000 php in preparation for her daughter’s college education. The loan comes with 8%…

A: Note:  This post has two questions, each with multiple sub-parts. The first question has been…

Q: Jill invested $1,000 each year into an account that earns 10% interest compounded annually to have…

A: The future value is the future worth of the amount that will be paid or received in the future.

Q: Kim Baker invested $250 at the end of every 3-month period, for 5 years, at 8% interest compounded…

A: If money has been deposited in an account at the beginning of every period for a specified duration…

Q: Hannah places $ 3500 into an account earning 8.75% interest compounded continuously, how much will…

A: GIVEN, PV = $3500 R=8.75% T=7 YEARS

Q: esslyn has just given an insurance company RM1 million, a sum of money she just received from her…

A: The given problem can be solved using RATE function in excel. RATE function provides interest rate…

Q: Ms. Maya Manaco has P2,500,000 to invest for a ear. She can lend it to his brother who has agreed o…

A: Solution Given Alternative 1 Simple interest Rate 10% Present value 2500000…

Q: How much should Mr. Cruz invest if it will earn an interest of 8% compounded monthly during the…

A: Present Value: It represents the present worth of the future cash flows and is computed by…

Q: Mr. Al Khasim deposited OMR 20,000 in a bank which offers a compound annual interest of 6%. How long…

A: Compound interest is one of the form of interest under which interest is charged on both principal…

Q: how much interest will mico pay

A: PV = A[ (1-(1/(1+r)^n)/ r] Where PV = present value, A = Annuity amount. r = interest rate. n =…

Q: Nur's father bought a car for RM104,000. He paid an advance of RM24,000 and the balance will be paid…

A:

Q: Cardo invested a certain amount at 20% simple interest per year. After 8 years, the interest she…

A: solution concept under simple interest the interest is calculated on the principal amount only .…

Q: Maria invested R15 000 for a period of 5 years at an interest rate of 10% per year compounded semi-…

A: Compounding interest semiannually means that the principal of a loan or investment at the start of…

Q: Mariposa deposits $2500 in a n account with an APR of 5.5% for 10 years. How much interest will she…

A: Given information : Amount deposited = $2,500 Annual percentage rate (APR) = 5.5% Tenure = 10 years…

Q: Nona purchased a new car earlier today for $32,000. She financed the entire amount using a five-year…

A: GIVEN, R = 3% LOAN AMOUNT = $32000 N= 5 YEARS = 60 MONTHS PMT = P×R12×1+R12N1+R12N-1PMT =…

Q: Mr. Sin borrowed ₱1,000,000 for the expansion of his business. How much will be the yearly payment…

A: The regular payments to be made for the loan taken can be calculated using the PMT function in…

Q: Cristina invests $140.00 a quarter for 9 years into an account earning 9% compounded quarterly.…

A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…

Q: Tina deposited $20 in a savings account earning 5% interest, compounded annually. To the nearest…

A: Interest is the amount charged or received for loan taken or investment made. There can be simple…

Q: Ben Tulpo invests Php1,000 at 10% a year for five years. He withdraws the interest at the end of…

A: Given information: Investment : Php 1000 Rate of interest : 10% Annual withdrawal : Php 150 Time…

Q: Mrs. Dollie availed a cash loan that gave her an option to pay Php10,000 monthly for one year. The…

A: An annuity is a stream of cash flows wherein an equal payment is paid at the end of every period.

Q: How much is the cash price of the car if Mrs Ocampo is to pay Php 21,000 monthly in 5 years? The…

A: Time value of money (TVM) refers to the method or technique which is used to measure the amount of…

Q: Sylvie Cardinal bought a business for $45 000. She made a down payment of $10 000 and agreed to pay…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: Abel wants to determine the amount of money he would obtain from the interest of PHP 2,000 at 16%…

A: Time value of money (TVM) refers to the method or technique which is used to measure the amount of…

Q: Sarah opens an investment account with an initial deposit of $1900. She then sets up monthly…

A: In this question we need to compute how much money will sarah have in account in 5 years i.e. we…

Q: Mrs. Santos placed an amount of 9,700 Php in an investment that pays an interest rate of 12%,…

A: Investment = 9700 Php Future value = 50,000 Php Interest rate = 12% Compounding = Semi annual

Q: Hannah wants to have $ 6500 to help pay for a new deck in 16 years. If she wants to put her money…

A: Future value required (FV) = $6500 Period of investment (n) = 16 Years Value of e = 2.7182818285…

Q: nd invests P20,000 for 40 years in an account earning 9% interest per year. How much will she…

A: Future value = Present value (1 + rate)^periods Future value = 20,000 (1 + 0.09)^40 Future value =…

Q: Lamis borrowed OMR 10,000 from Bank Muscat with an interest rate of 5% for 3 years. The amount she…

A: The amount that has to pay after three years is the sum of principal and compound interest on the…

Q: Mr. Ramos buys a house and lot that cost P450,000. He pays P75,000 as down payment and promises to…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Hannah made a bank loan worth Php 200,550 with 5% interest compounded semi-annually (2 times in a…

A: A= P ( 1 + i/n)nt A = Future Value P = Principal Amount i = interest rate n = Number of times…

Q: Your aunt is planning to invest in a bank CD that will pay 7.5% interest semi annually. If she has…

A: SEMI ANNUAL INTEREST RATE  (7.50%/2) 3.75% PERIOD (4*2) 8 PRESENT VALUE $5,000 PMT 0

Q: Travis invested $8000 in an account that pays 4 percent simple interest. How much more could he have…

A: Investment = 8000 Simple Interest Rate = 4% N = 7

Q: Hannah wants to have $ 7500 to help pay for a new deck in 13 years. If she wants to put her money…

A: The amount required to invest today can be calculated with the help of future value function

Q: Alexander invests $5,000 at an interest rate of 1.4% per quarter. How much is the investment worth…

A: Future value is the value of the current assets or some amount that is invested today and amount…

Q: Last year, Charlie had $30,000 to invest. He invested some of it in an account that paid 10% simple…

A: Simple interest is one of the methods of calculating interest in which interest is calculated only…

Q: Rahimah invests RM500 in a saving account paying 12% interest per year compounded monthly. How much…

A: Hi there, Thanks for posting the questions. But per Q&A guidelines, the solution for one…

Q: Jacqueline invests $12000 for 8 years and 8 months. The account earns 11% semiannually. What is n…

A: Investment = $12000 Time of Investment = 8 Years and 8 Months Interest Rate = 11% per year…

Q: Alex invested a certain amount to a business and promised to pay him back with 2.26 times his…

A: An investor expects that the investment should grow over a period of time to earn returns. The…

Q: Jennie invested a certain amount in a bank compounded semi-anually.The bank told her that the…

A: Solution:- When an amount is deposited somewhere, it earns interest on it.  The amount invested is…

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.