On May 1, 2020, Hazel borrowed a sum of money from Far East Bank , payable for 2 years at 8% simple interest. She paid P6,000 for the interest of her loan. Find how much was borrowed by Hazel.

Q: Maya borrowed 15, 000 pesos last June 10, 2020, from a lending institution which offered 12% simple…

A: The time period for which loan or borrowed amount is due or funds are held by borrower is calculated…

Q: Reena took a loan of 1200 with simple interest for as many years as the rate of interest. If she…

A: Loan amount= 1200 Interest amount= 432 Rate of interest=?

Q: A person agreed with a bank to deposit an amount of 500 dinars at the end of each year starting from…

A: The compound value of money can be depicted as the amount of interest generated on interest earned…

Q: On January 4,2016, Minggun, borrowed P24,000 and promised to pay the principal and the interest at…

A: The given problem can be solved using FV function in excel. FV function computes outstanding loan…

Q: Rosel applied for a cash loan with an amount of P100,000.00 to be paid using ordinary simple…

A: Loan amount (L) = P 100000 Simple interest rate (r) = 6.5% n = 2 years 5 months = 29 months

Q: Jessica purchased a home on January 1, 2021, for $750,000 by making a down payment of $300,000 and…

A: Here to understand the details of maximum deduction allowance which are made in the itemized…

Q: In the current year, Sanchez paid interest of $30,000 on a $1,000,000 principal home mortgage. He…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : It is…

Q: Heather owes Mark $10.000 payable on September 2021. If money can earn 12 %, what amount should Mark…

A: Accrued Interest- Accrued interest refers to the interest that has not been paid however has already…

Q: Salma borrowed $600from a bank for 2 years and was charged simple interest. The total interest that…

A: The annual interest rate on the loan is calculated using the simple interest formula given as below:…

Q: Flo East has $25,000 to invest in a financial institution for a period of three years. Institution A…

A: Explanation : When we are calculating the Compounded Interest calculation Monthly Compounding…

Q: Nina borrowed money on 31 August and agreed to pay back the loan on 2 November of the same year. If…

A: Solution- Loan taken by Nina=R5000 Date=31st August Rate of Discount=18% Date of Repayment=2nd…

Q: On 29 March 2021, Justin deposited R3 500 into a savings account. The simple interest rate agreed…

A: Simple interest is the fixed interest earned on the principal amount that was borrowed or lent.

Q: katy took out a loan for $12000 over 3 years, if her total loan repayments amounted to $18750,…

A: Given Loan amount = $12000 Loan repayment = $18750

Q: eila borrowed PhP 60,000 with an interest of 3% from her collegue on January 15 and then she agreed…

A: Simple interest is the interest calculated on the principal portion of a loan.

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: Luis paid off a loan by making a payment of $4,050, which included simple interest of 3% p.a. If he…

A: Payment amount after 6 months (FV)= $ 4050 Annual interest rate (R) = 3% Period  (T) = 6 Months =…

Q: Greg owns two debt payments - a payment of $5338 that was due in 11 months ago and a payment of…

A: The concept of the time value of money states that the same amount of money is worth more today than…

Q: On January 1, 2020, Tasya opened a savings account of IDR 1,000,000. After that date every month for…

A: The portion of one's income that is not spent on current costs is referred to as savings. In other…

Q: On 1 January 2018, Alyssa invested P1,000,000 to BDO’s 5 year, tax free time deposit. The long term…

A: Here discuss about the details of the final tax withhold for the interest income which are generated…

Q: Jane requested a loan from a bank amounting to P405,630 to continue her small business. But she only…

A: Given: Maturity Value "M" = P405630 Proceeds = 83.84%*P405630 = P340080.192 Number of years = 12…

Q: Roman paid $68,800 as a down payment towards an apartment purchase and receive nortgage from a bank…

A: Loans are paid by monthly equal amounts of payments and these equal payments carry the payment for…

Q: Engr. Tongol borrowed money from a loan shark. He receives from the loan shark an amount of P…

A: Simple interest = Amount borrowed * Interest rate * (Number of months / 12)

Q: A man borrowed Php200000 from his friend and agreed to pay years at an interest rate of 10% per…

A: Loan amount = Php 200000 Interest rate = 10% Future value required (FV) = Loan amount*(1+Interest…

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: Jason takes out a loan at 10% compounded annually for 7 years. At the end of this period, he pays…

A: Interest charged on the principal amount and the interest accrued is known as Compound Interest. It…

Q: Miss Evilla borrowed money from a bank. She receives from the bank P1,340.00 and promised to pay…

A: Banker's discount is the discount amount calculated on the future value of payable.

Q: On May 30, 2021, Fred loaned ₱150,000 in a bank. It was agreed that he will pay the amount with a 6%…

A: Whenever we need to borrow funds for the business, it can be from internal members or from outside…

Q: usinessman borrowed P300,000 with interest at the rate of 6% compounded annually. He agrees to…

A: The annual payment depends on the interest rate and original amount of loan and deferred period of…

Q: On June 26, 2019, Naomi obtained a loan of P150,000 from a local businessman. The interest rate on…

A: There are two types of simple interest: the ordinary and the exact. These two phrases employ the…

Q: Brandt receives a loan of S10000 from a bank at an annual interest rate of 6% compounded monthly to…

A: Loan is contract between lender and borrower where lender provide funds to borrower that is repaid…

Q: To expand his business, Happy took a loan of $1million from a bank on 1 January 2020 which he will…

A: Here, Loan Amount is $1,000,000 Interest Rate charged is as follows: 5% per annum effective for…

Q: .Interest rate per month,%? 2.Amount paid at the end of 3 years. 3.Amount to be paid at the end of 5…

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

Q: Jessica purchased a home on January 1, 2018 for $650,000 by making a down payment of $260,000 and…

A: The internal revenue service is a U.S. government agency responsible for the collection of taxes and…

Q: To expand his business, Happy took a loan of $1million from a bank on 1 January 2020 which he will…

A: Here, Loan Amount is $1,000,000 Interest Rate charged is as follows: 5% per annum effective for…

Q: Patricia promises to pay Patsy $2400.00 plus interest at 8% in one year. After 3 months passed, she…

A: Time has been valuable in all aspects but in terms of finance, time has a money value. The worth of…

Q: Antoni is about to graduate and he wants to buy a new electric bike he borrowed php 2,5000 from a…

A: Interest is an additional amount which is charged on borrowed amount for the period. It is a…

Q: Carl borrowed P183,074 from his friend to pay for remodeling work on his house. He repaid the loan…

A: Amount borrowed P183,074. Simple interest 4.38% Loan repaid after 14 months.

Q: Erica borrowed money from Charles an amount of 58,744 and promise to pay at the end of second and…

A:

Q: Joey has 750,000 in bank account as of December 31,2018. If he deposited P40,000 in the account at…

A: Interest is the amount paid to the bank against loan taken. It is determined by multiplying the…

Q: at

A: Principal amount = X Simple interest  =P6000 Time=2 year Interest rate=8% Using interest rate…

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: Carol borrowed $5,200 and signed a straight note with an interest rate of 7% per annum. If she paid…

A: A straight promissory note can be defined as that note which does not require periodic payments over…

Q: How much money did he borrow if the interest is 8% compounded quarterly ?

A: Principal amount is the amount initially invested in a deposit account or the net amount borrowed by…

Q: Mark borrowed an amount of P8,830 from Brian and after 2 years, he borrowed again an amount of…

A: Compound interest (or compounding interest) is the interest on a loan or deposit calculated based on…

Q: On February 14, 2014, Rogine borrowed Php60,250 at 7% compounded semiannually. How much does he…

A: Solution:- When an amount is borrowed, it has to be repaid along with interest. The amount borrowed…

Q: Taylah purchased a 2017 Toyota Camry on 2 July 2020 for $46,000. She financed the full price of the…

A: In the context of the given question, we need to compute the interest apportionment percentage.…

Q: Liam borrowed money from a bank worth P15,000.00 on January 11, 2020. They agreed on a simple…

A: A bank earns in the form of interest by giving loans to individuals or corporates. The interest…

Q: Ahmed borrowed OMR 500 at 11% for 2 years.  Find the interest he will pay on the loan.  How much…

A: Amount Borrowed =OMR 500 Interest per year (r) = 11% YEars (n) = 2

Q: To expand his business, Happy took a loan of $1million from a bank on 1 January 2020 which he will…

A: Here, Loan Amount is $1,000,000 Interest Rate charged is as follows: 5% per annum effective for…