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Q: 3. 1,000,000 php was deposited in a bank and was left for 8 years in which that time, the principal…
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A man paid a 10% down payment of P200,000 for a house and lot and agreed to pay the balance of monthly installments for 5 years at an interest rate of 15% compounded monthly. What was the monthly installment in pesos?
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- Jake borrowed P750, 000 from a credit union to purchase a used car. The interest rate on the loan is 0.25% per month and he will make a total of 36 monthly payments. What is his monthly payment?Mr. Santos borrowed P30,000.00 two years ago. The terms of the loan are 8% interest for 8 years with uniform payments. He just made his second annual payment. How much principal does he still owe?Mr. Smith plans to purchase a new $10 000 automobile. He wants to borrow all the money for the car, and repay it in equal monthly installments over a 4-year period. The nominal interest rate is 11% per year, compounded continuously. What will be Mr. Smith's monthly payment?
- A person buys a piece of lot for $100,000 down payment and 10 deferred semi-annual payments of $8,000 each, starting three years from now, what is the cash price of the lot if the rate of interest is 12% compounded semi-annually?A condominium unit can be bought at a down payment of ₱150,000 and a monthly payment of ₱ 20,462 for 10 years starting at the end of 5th year from the date of purchase. If money is worth 3% compounded monthly, what is the cash price of the condominium unit?Determine the equivalent amount pf money at the beginning of the second year if interest is 6% per year, compounded monthly
- Engr. Graziella loans an amount of P150,000 at 8% effective annual interest. She agreed to pay the loan over 15 years with a uniform monthly payment due on the first day of each month. What will be the monthly payment of Engr. Graziella?A house and lot costing P2 Million was bought at a downpayment of P500,000.He paid P1 million after 1 year and the remaining balance after 3 years.How much was the payment after 3 years if the interest rate is 24% compounded semi-annualyA man bought a lot worth P2.5M if paid in cash. On the installment basis, he paid a down payment of P200,000; P300,000 at the end of one year; P400,000 at the end of three years, and a final payment at the end of five years. What was the final payment if interest was 15.6%?
- 7. If Elvira borrowed P 130,000 from Rona with an interest rate of 12% per year compounded quarterly. What is the effective rate?A bank can lend a client Php 10,000.00 with a simple annual interest rate of 3% to be paid after 3 years. If the same principal amount and future worth are to be strictly transacted but using compounded interest annually to be paid after the same number of years, what should be the interest rate?John bought a car with cash value of P15,294 on the installment plan under the following terms: P4,312 cash upon delivery and the balance payable in 12 equal monthly payments. Assuming money is worth 5.23% compounded quarterly. What is his monthly payments? How much is his remaining debt at the end of eight months? pls provide the cash flow. thanks