M purchased a small lot in a subdivision. paying P200 000 down and promising to pay P15 000 every 3 months for the next 10 years. The seller figured interest at 12% compounded quarterly.  If M missed the first 10 payments what must he pay when the 11th payment is due to discharge his entire indebtedness?

Q: A principal of $100 is invested at 8% for 2 year. Determine the future value if the interest is…

A: Principal; P= $100 Rate= 8% Time= 2 years a) Annually Future Value=P1+rt…

Q: Manually calculate the compound amount and compound interest (in $) for the investment. Compound…

A: A = Amount  P = Principal t = Time  Nominal rate= r  Compound interest (CI) = Amount(A) -…

Q: 3. Don Blaza bought a property for 300,000 down payment and the balance in 10 deferred semi-annual…

A: Here we calculate the given by following method as follow;

Q: A man bought an equipment costing P60,000 payable in 12 quarterly payments each installment payable…

A: Quarterly compounding refers to the amount of interest earned on a quarterly basis on an account or…

Q: You want to buy a $32,000 car.  You can finance the car for 1.5% interest for 6 years. What is your…

A: The formula for monthly payment is calculated as follows: Monthly payment = Pr121+r12n1+r12n-1 where…

Q: How many years will it take for an investment to be twice its value if it earns 8% compounded…

A: We use the rule of 72 here. No. of years needed to double any investment = 72/ interest rate

Q: You purchase a house for $250,000 directly from the buyer who owns the home outright. You pay a 20%…

A: Equivalent annual payment (EAP) or single payment can be calculated by using the following formula.

Q: A mortgage of 190000 is required to purchase a house. The mortgage will be repaid with equal monthly…

A:

Q: Jed opened a savings account and deposited P900.00 as principal. The account earns 15% interest,…

A: Given information: Principal Amount (P): P900.00 Interest rate (r): 15% compounded continuously…

Q: Click the icon to view the interest and annuity table for discrete compounding when i=8% per year.…

A: Present worth is the idea that expresses a measure of cash today is worth more than that equivalent…

Q: A mortgage of 190000 is required to purchase a house. The mortgage will be repaid with equal monthly…

A: The mortage amount (present value) = $190000 Total intallment period (n) = 25 years x 12 Months =…

Q: If the nominal interest is 12% compounded continuously, compute the effective annual rate of…

A: The effective annual interest rate is the genuine interest rate on an investment or loan since it…

Q: Compute the effective annual interest rate in each of the following situations. Solve, a. 5.75%…

A: The effective rate of interest is the return on a savings account or an investment, whose interest…

Q: Laura has seven years to pay off a $23000 student loan at 6% per year, compounded monthly. a)…

A: Loans when paid back on a recurring period, the payback amount includes the basic principal and an…

Q: a. To pay $500 at the end of each month for a period of 10 years with an interest rate 12%…

A: The formula for compound interest is the following - A = P * (1 + r/n)^nt where A is the amount or…

Q: A series of equal semi-annual payments of $1,000 for 3 years is equivalent to what present amount at…

A: semi annual payments = 1000 Time = 3 years Interest rate = 12 % Semi annual rate = 12/2 = 6 %…

Q: Jake Werkheiser decides to invest $5000 in an IRA at the end of each year for the next 11 years. If…

A: We have the following information, Jake Werkheiser decides to invest $5000 Time period, n = 11…

Q: Compute the size of the final payment for the following loan. Periodic Principal $ Payment $ 8600…

A: Principle = 8600 , PMT = 580, Payment period = 6 months interest rate = 5%, Compounding period =…

Q: A mother borrowed 110,021 with 0.24 compounded semi-annually and promised to pay the amount by 20…

A: Amount borrowed = 110021 Interest rate = 24% compounded semi-annually Number of installments = 20…

Q: If you deposit dollar 10000 into a fund paying 6% interest compounded monthly. how much can you…

A: Given the present value in the fund = 10000 Interest rate = 6% Monthly interest rate = 6%/12 = 0.5%…

Q: If the interest rate of a certain account is 6.5%, compute the (a) single payment present worth…

A: Present Worth represents the value of a future sum of money in present terms . Single payment…

Q: A department store has offered you a credit card that charges interest at 1.53% per month,…

A: Nominal interest rate and the effective annual rate are calculated as follows:-

Q: Your new credit card has a low nominal interest rate of 4%, but it is compounded daily. (a) What is…

A:

Q: You bought an antique car three years ago for $500 000. Today it is worth $650 000.(a) What annual…

A: Time (t =) 3 years;    Principle (P) = $500,000   Worth after 3 youlf x= $ 150,000

Q: M purchased a small lot in a subdivision. paying P200 000 down and promising to pay P15 000 every 3…

A: HI student, thanks for posting the question. As per the guideline, we are providing answer for the…

Q: .How long it take money to quadruple if it earns 3% compounded daily 16636 days 16637 days 16867…

A: Let the initial amount is x. It will become 4x in n days. Rate of interest is 3% compounded daily.…

Q: 2. Convert 12% compounded semi-annually to "r" compounded quarterly.

A: The formula for effective rate of interest is: r = 1+inn - 1

Q: A series of equal semi-annual payments of $1,500 for 3 years is equivalent to what present amount at…

A: here we calculate the present amount with compound semi-annually so the calculation as follow-

Q: If the nominal annual interest rate is 7% compounded monthly, what is the effective quarterly…

A: When the effects of compounding over time are considered, the effective annual interest rate is the…

Q: The payment for a certain loan was arranged such that Dino will pay $5,500 every month for the first…

A: Given Data,

Q: You invest 10,000 pesos for 3 years and get 10% interest compounded at the end of each year. What is…

A: We use the compound interest formula to calculate future value after 10 years.

Q: A debt of $10,000 with interest at a rate of 20% compounded semiannually is to be amortized by 5…

A: GIVEN   A debt of $10,000 with interest at a rate of 20% compounded semiannually is to be amortized…

Q: How long it take money to triple if it earns 6% compounded continuously

A: Rule of 115 (Time it takes to triple the investment) Interest rate = 6 % compounded continuously

Q: The monthly average cable TV bill in 2017 is $71.88. If cable costs are climbing at an annual rate…

A: Monthly average in 2017 = $71.88 Increase in annual rate (r) = 3% per year n= 2020 - 2017 = 3 years

Q: If 10% annual interest rate, considering compounding semiannual rate is __________

A: The data presented to us is as follows:- Annual interest rate = 10% We need to calculate compounding…

Q: Accumulate $ 300 for nine years at 6% compounded quarterly. What is the compound interest earned?

A: Given information: Principal amount (P): $300 Interest rate (r): 6% Time period (t): 9 Compounding…

Q: Compute the effective annual interest rate in each of these situations: a. 9% nominal interest,…

A: The effective annual interest rate is the real return on a savings account or any interest-paying…

Q: f you have only $750 on January 1, 2019, what interest rate, compounded annually for 3 years, must…

A: Given: The amount of initial investment is = $750 Years = 3 The maturity amount is = $1,000 To Find:…

Q: $20,000 for 5 years @ 2.25% annual interest, compounded quarterly.

A: Compounded Quarterly "it is the compound interest payable based on 3 months compounded and it is…

Q: If money is worth 5% compounded quarterly, compute the present value of the perpetuity of P 2500.00…

A: Given data: Rate is r=5% compounded quarterly. Periodic payment is P 2500 payable quarterly.

Q: It takes 10.15 years to quadruple your money if invested at x% compounded semi-annually. Find the…

A: In the mentioned question, Number of years, n= 10.15 years Here qiven, money will be quadruple which…

Q: You are taking a $5000 loan. You will pay it back in four equal amounts, paid every 6 months…

A: The effective annual interest rate is the interest rate that is actually earned or paid on an…

Q: Leo has $7 in a savings account. The interest rate is 5%, compounded annually. To the nearest cent,…

A: Compound Interest formula= Final Amount−Initial amount Final amount formula:-…

Q: Find the present value of the given future payment at the specified interest r $5000 due in 20 years…

A: Given information, Future value (FV): $5000 Interest rate (r): 5% compunded annually Compunding in…

Q: A loan company offers money at 1.5% per month compounded monthly. What is the effective annual…

A: Write the formula to calculate effective interest rate as follows: Effective interest rate =…

Q: You have just purchased a home and taken out a $500,000 mortgage. The mortgage has a 30-year term…

A: here we calculate the monthly mortgage payment by using the formula which are as follow-

Q: Find the amount accumulated FV in the given annuity account. HINT [See Quick Example 1 and Example…

A: According to the question, we can calculate the future value of the deposited using the given…

Q: What is the present equivalent of a uniform series of quarterly payments of $4,500 each for four…

A: We are going to use Present value of money approach to answer this question.

Q: Your mortgage compounds interest annually at an interest rate of 3.1%. If your loan was for…

A: Interest paid after 5 years= 115438.789

Q: (ou have just taken out a mortgage for $5 75,000, at a fixed rate of 4.75% per rear, compounded…

A: The term mortgage refers to a loan used to purchase or maintain a home, land, or other types of real…