urt borrowed from a bank and wants to start paying P50,000 annually at the end of the 4th year. If it requires 5 annual payments for the borrowed money to be paid off and money is 12% compounded semi-annually, how much did he borrow?

Q: A young man saved his money every quarter for 5 years into his bank account. He deposits P2.000 per…

A: Quarterly deposit first 2 years = P 2000 Quarterly deposit next 3 years = P 4000 Annual interest…

Q: Supposed you want to buy a used car but your savings is not enough. To do this, you borrow P60,000…

A: Loan amortization is the process of scheduling out a fixed-interest rate loan into scheduled…

Q: 1. Manda Bamkeng deposits Php 50,000 every beginning of the month for 4 years with 2% compounded…

A: Note: As per the rules of Bartleby,in case of multiple unspecified questions only the first question…

Q: Can you please help me work out this problem in detail?   Tony Ring wants to attend Northeast…

A: We need to use the concept of time value of money to solve the question. According to the concept of…

Q: Ronald Gonzales, who recently sold his Bicycle, placed P10,000 in a savings account paying annual…

A: Future Sum is the accumulated value of given amount with interest over each period. In given case,…

Q: If you need to pay $12,000 after 7 years for the money you borrowed from a friend, how much will you…

A: To calculate the loan amount we will use the below formula   Borrowed amount = MV/[1+(r/m)]t*m Where…

Q: Answer the following problems. Show your solutions. Annuity 1. How much money will you accumulate by…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 1. If money is worth 5% compounded quarterly, how much must Julea save every end of three months to…

A: Here we will use the concept of time value of money. As per the concept of time value of money it is…

Q: A student graduates from college with a 58000 student loan, with an 8.8% annual simple interest…

A: Simple interest: It is the amount of interest that is computed by multiplying the interest rate with…

Q: John already has $55,600 today in his savings account earning 5.5% compounded semiannually. The…

A: Here,

Q: Tony Ring wants to attend Northeast College. He will need $66,000, 4 years from today. Assume Tony's…

A: Future Amount required (fv) = $66,000Interest Rate = 12%Type of Interest Compounded =…

Q: 4. Vincent wants to deposit Php 5,000 at the end of each quarter, for 3 years in a bank that gives…

A: Given  Principal = 5,000 Rate (r) = 8% pa or 2 % (8% /4) quarterly Period (n) = 12 periods (3 Yrs…

Q: A bank offers a 12% interest to be compounded annually. How much should a teacher deposit now if he…

A: Present value is the value of future cash flows discounted at a specified interest rate for a…

Q: A student graduates from college with 48000 in student loans with a 5.5% annual simple interest…

A: In the given question we require to calculate the amount of loan due after the first payment.…

Q: You would Ilike to have $59,000 in 5 years for the down payment on a new house following graduation…

A: Note: No intermediate rounding is done, only the answer is rounded off to nearest whole number.a)…

Q: Mr. Doe is trying to decide whether to put his money in the XYZ Bank or the ABC Bank. The XYZ Bank…

A: Option 1 - XYZ Bank, 6% interest rate, compounded annually Option 2 - ABC Bank 5% interest rate,…

Q: What is the annuity payment?

A: Time value of money (TVM) refers to the method used to measure the amount of money at different…

Q: A boy borrows 25000 from father. His father lends him the money, on the condition that he would be…

A: Here, Borrowed Amount is 25,000 First year monthly payment is 500 Interest Rate is 5.2% Compounding…

Q: Thomas is planning to withdraw $7000 from a savings account at the end of each quarter for three…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: You want to buy a car, and a local bank will lend you $10,000. The loan would be fully amortized…

A: "Hi, As you posted multiple questions, we will answer the first question for you as per guidelines.…

Q: A student plan to deposit P1, 500 in the bank now and another P3, 000 for the next 2 years. If he…

A: Year Deposit Interest Balance 1. 1500 150 1650 2. 3000 165 + 300 5115 3. 3000 511.5 + 300…

Q: Tony Ring wants to attend Northeast College. He will need $60,000 4 years from today. Assume Tony’s…

A: The present value function or formula can be used to derive the present value of a future sum or…

Q: Suppose you borrowed $15,000 at a rate of 10% and must repay it in 5 equal payments at the end of…

A: Annual worth distributes present worth into equivalent uniform value over its useful life.

Q: 2. Suppose Sana borrows P8,500 from Momo to add to her son's tuition payment. She promises to pay…

A: Future Value: Using an expected rate of growth, future value (FV) is defined as the worth of a…

Q: Mr Ahmad wants to borrow $30,000 for a delivery Van for his Bakery business, which is rovided by…

A: Amount to borrow is $30,000 Interest rate is 9% per year Compounded monthly Time period is 5 year To…

Q: Ken is paying off a loan by making a $50 down payment and then $50 payments at the end of every…

A: Loan is the amount borrowed by the company or individual for the purpose of fulfilling the financial…

Q: You would like to have $59,000 in 5 years for the down payment on a new house following graduation…

A: Future Value= $59,000; No. of periods= 5*4= 20 years, Interest rate per period = 4.24/4=…

Q: A young couple buying their first home borrow $90,000 for 30 years at 7.6%, compounded monthly, and…

A: Solution: As per given - A young couple buying their first home borrow $90,000 for 30 years at 7.6%,…

Q: Robert recently borrowed $20,000 to purchase a new car. The car loan is fully amortized over 4…

A: Ordinary annuity are the PMTs which are made at the end of the period.

Q: 1. Chris has saved $6500 towards buying a car which is valued at $23,500. They plan to borrow the…

A: Interest: It is the amount that is paid by the borrower to the lender for taking a loan. It is paid…

Q: Avishek has an interest only loan for $100,000.00 maturing in 9 years. The interest rate on the loan…

A: Calculate the quarterly rate as follows: Quarterly rate =(1+Biweekly rate)264-1 Quarterly rate…

Q: William wants to borrow $42,000.00 today to purchase a car, which bank's lending option will allow…

A: Present Value of annuity formula is used to check if the loan present value of periodic payments.…

Q: Heather has $13,000 to put down on a new car priced at $25,000. The bank offers an annual interest…

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

Q: t on the account is 10% compounded semi-annually, for how long does Laura have to deposit the money?…

A: The answer has been mentioned below.

Q: A man is paying 100,000 at the beginning of each month at a rate of 12% compounded monthly. If the…

A: Present Value of Annuity due refers to the value today of the series of the predetermined amount of…

Q: Hugo loaned P200,000 from a local bank to be paid back uniformly in five years. How much will he pay…

A: The given problem can be solved using PMT function in excel. PMT function computes installment…

Q: Boris wants to save $27,000.00 for the down payment on a house. He already has $2,700.00, and he…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: A.) A man has deposited $50 000 in a retirement income plan with a local bank. This bank pays 9% per…

A: The requirement is to find the annual withdrawal. This amount will be the same for all 12 years. The…

Q: 1.) Miller likes to invest in annuity that will pay him Php. 5000 at the end of each month for 5…

A: Note : As per the guidelines, only first question will be answered. Kindly post the second question…

Q: a.) What is the monthly rate? b.) How many total deposits?

A: Information Provided: Amount = $750,000 Term = 4 years Interest rate = 15% compounded monthly

Q: A person wants to borrow as much money as possible today with an annual payment of $1000 at the end…

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: An individual needs $12,000 immediately as a down payment on a new home. Suppose that he can borrow…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: A student graduates from college with $49,000 in student loans with a 6.8​% annual simple interest…

A: Loan is the amount which is borrowed from other sources for a specific period and will be paid with…

Q: Benjamin receives an annual bonus of $1,000 and wants to invest it in an account that earns interest…

A: There are two types of interest calculated: simple interest and compound interest. The simple…

Q: You have borrowed SEK 40,000 from your friend on the condition that you repay the loan with the same…

A: As the payment in the provided case is to be made at the end of each year, thus, it is a case of…

Q: Brendon Walsh wants to borrow $30,000 from the bank. The interest rate is 6% and the term is for 5…

A: A loan is an agreement between two parties where an amount is exchanged in return for future…

Q: A rural bank pays interest at the rate of 2% compounded quarterly. If Neil deposits P3,000 every…

A: Interest rate = 2% quarterly compounded Monthly deposit (M) = P 3000 n = 5 years = 60 months

Q: 4) of 3% per year compounded monthly. John has been making equal monthly payments on the loan. He…

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