Jin bought a new laptop worth 19,000 pesos to be paid monthly for 1 year. If the interest rate is 4% compounded monthly, construct the first and last 3 rows of the table showing this amortization
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Jin bought a new laptop worth 19,000 pesos to be paid monthly for 1 year. If the interest rate is 4% compounded monthly, construct the first and last 3 rows of the table showing this amortization.
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- Electro Corporation bought a new machine and agreed to pay for it in equal annual installments of 5,000 at the end of each of the next 5 years. Assume a prevailing interest rate of 15%. The present value of an ordinary annuity of 1 at 15% for 5 periods is 3.35. The future amount of an ordinary annuity of 1 at 15% for 5 periods is 6.74. The present value of 1 at 15% for 5 periods is 0.5. How much should Electro record as the cost of the machine? a. 12,500 b. 16,750 c. 25,000 d. 33,700Samuel Ames owes 20,000 to a friend. He wants to know how much he would have to pay if he paid the debt in 3 annual installments at the end of each year, which would include interest at 14%. Draw a time line for the problem. Indicate what table to use. Look up the table value and place it in a brief formula. Solve.Using the information provided, what transaction represents the best application of the present value of an annuity due of $1? A. Falcon Products leases an office building for 8 years with annual lease payments of $100,000 to be made at the beginning of each year. B. Compass, Inc., signs a note of $32,000, which requires the company to pay back the principal plus interest in four years. C. Bahwat Company plans to deposit a lump sum of $100.000 for the construction of a solar farm In 4 years. D. NYC Industries leases a car for 4 yearly annual lease payments of $12,000, where payments are made at the end of each year.
- Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.Jungkook purchased a new car under these terms: 800,000 php downpayment and 17,500 php each month for 5 years. If the interest is 12% compounded monthly, what is the cash price of the car?
- Mr smith wants to borrow P100,000 from a bank to rebuild his shop from damages caused by an earthquake. The interest rate is 14% compounded quarterly, and he plans to pay off the debt in three years by making equal quarterly payments. Create an amortization schedule (table) to help him keep track of the payments he have made, the interest he paid, the principal he repaid, and the principal he still owe for each month. Below is an example of a amortization table, make the same table based on the given problemMr. Ramos buys a house and lot that cost P450,000. He pays P75,000 as down payment and promises to pay the balance by monthly installment for 25 years. If money is worth 12% compounded monthly, a. How much is the monthly amortization? b. What is the outstanding balance at the end of 15 years? c. What part of Mr. Ramos payment goes to the interest? d. What part of the 181st payment goes to repayment of the principal? e. Find the total interest paid on the transaction? Please do on excelMrs. Parker bought a computer set for $32,000 to be paid in equal payments at the end of every 3 months for 1 year. If the interest is 8% compounded quarterly, construct the amortization schedule.
- Michael bought a laptop and paid P12,000 down payment plus P10,000 at the end of each month for a year. If money is worth 12% compounded monthly, find the cash value of the laptop. Create an amortization table.Mrs. Castro bought a computer set for Php32,000.00 to be paid equal payments at the end of every three months for 1 year. If the interest is 8% compounded quarterly, construct the amortization schedule.Sergio purchased a house for $440,000; he paid $44000 as a down payment and financed the balance amount at 4.9% compounded monthly for 20 years. a) What is the size of payment made at the end of every month to settle the loan? b) What was the amount of interest charged for the entire loan? c) If Sergio pays an additional $350 per month, how many periods will it take to payoff the load? $d) If Sergio pays an additional $350 per month, how much interest will be saved?
