Mr. Koys applied for a farm input loan amounting to 24,000.00 with a fixed rate of 5.5% per annum. 8. How much will be the interest for      1 year? 9. How much will be his monthly          amortization? 10. Compute the principal and interest for the first month of his loan.

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A: Instalment= P x R x (1+R)^N / [(1+R)^N-1] N= 3 years*2 = 6 periods R= 10%/2 = 5%

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A: using financial calculator, N = 5*12 =60 PMT = -2150 PV= 100,000 FV = 0

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A:

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A:

Q: Mr. Koys applied for a farm input loan amounting to 24,000.00 with a fixed rate of 5.5% per annum.…

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A: present value=future value1+rate of interestfrequency of compoundingyear×frequency

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Q: what is the total amount of the loan?

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