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A: Quarterly payment (Q) = P 450 n = 12 payments r = 8% per annum = 2% per quarter Let X = Debt amount
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Q: Daniel paid $825 simple interest on a $1400 loan for five years . What was the interest rate?
A: Given: Simple Interest =$825Principal amount =$1400Time =5 years
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A: Present Value = 18,420 Future Value = 20,000
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A: Borrowed amount = P1500 Interest rate = 3% per month Period = 10 Months
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A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…
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A: Solution Given Amount due 200000 Interest rate 5% Compounding Semi annual…
Q: Joyce pays P 2,000 every two months to settle his obligations for two years at 8% compounded…
A: Bimonthly payment (B) = P 2000 r = 8% compounded bimonthly = 8%/6 bimonthly = 1.3333% n = 2 years =…
Q: Salma borrowed $600from a bank for 2 years and was charged simple interest. The total interest that…
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A: Simple interest = Amount borrowed * Interest rate * (Number of months / 12)
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Q: Eugene is offered a 5% discount for immediate payment of a bill which is due in 90 days. What is the…
A: Simple interest rate is the rate which is calculated without taking any compounding frequency.
Q: Mr. Joe pays $2068 a month for the loan he took from a bank. If the total payment period is 3 years…
A: Mr. Joe pays monthly loan = $2068 Total payment period = 3 years Interest rate per annum = 29%…
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A: Borrowed amount = P150,000 Time period = 2 years Rate = 6%
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A: Simple interest = Amount x Rate x Time = P45,000 x 15% x 2 months12 months = P1,125
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A: Loan Amount = $100,000 Interest Rate = 4% Payment in 1 Year = $10,000
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A: Formula: Yearly payment = Monthly payment x 12 Months
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Mr. Jones borrows P2,000 for 90 days and pays P35 interest. What is his effective rate of interest?
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- A debtor borrows P7,900 and agrees to pay P9,359 for his debt 3 years & 4 months from now. At what rate compounded monthly is he paying the interest?Vincent borrows Php 4,800 with interest at 18% compounded quarterly. How much should he pay to the creditor after 4 years to pay off his debt?G borrows P47,400 with interest at 18% compounded quarterly. How much should he pay to the creditor after 3 years to pay off his debts?
- Margo borrows $1400, agreeing to pay it back with 7% annual interest after 217 days. How much interest will she pay?Coco borrowed ₱100,000 and wishes to repay Kobe at the end of each month with payments of ₱3,000 for as long as necessary. Coco is charged by Kobe 9% interest compounded monthly. How many regular level payments does Coco have to pay?Mr. Joe pays $2068 a month for the loan he took from a bank. If the total payment period is 3 years and the interest rate is 29% per year compounded monthly. Determine the amount of loan Mr Joe took?
- Joshua borrowed $800 for one year and paid $40 in interest. The bank charged him a service charge of $7. If Joshua paid the $800 in 12 equal monthly payments, what is the APR?José borrowed 8100 at 5 1/2% for  three years compounded, semi am annually. What is the future value of the loan and how much interest will he pay on the loan?Juancho is required to pay P1,800 at the beginning of each quarter for the next 3 years for his loan. What is the periodic interest rate if the loan has an interest rate is 3.5% compounded monthly?
- Caren Rodriguez borrows P1,500 with simple interest at 3% per month. Whatpayment at the end of 10 months could settle her obligations?Juan took out a $20,000 loan for 146 days and was charged simple interest.The total interest he paid on the loan was $488.As a percentage, what was the annual interest rate of Juan's loan?Assume that there are 365 days in a year, and do not round any intermediate computations.Eugene is offered a 5% discount for immediate payment of a bill which is due in 90 days. What is the largest simple interest rate at which he could afford to borrow in order to pay cash?