What rate compounded monthly was charged on a loan of P3500.00 repaid in monthly installments of P107.19 in three years and 3 months? * 11.03% 2.15% 3.68% O 6.45%
Q: How much was borrowed is a simple interest rate of 2.10% was offered payable in 4 months with…
A: Simple interest = Principle * Interest * time
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A: Simple interest is a quick and easy way to find out how much money you owe. The daily interest rate…
Q: A debt of $125000,00 was paid by quarterly payment of $5000.00 at 8.4% p.a. compounded quarterly?…
A: Amortized Loan Amortized loan is a type of loan in which the borrower would pay periodic payments…
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A: Compound Interest is also called interest on interest. It is the addition of interest in the…
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A: Given information: Present value of loan is $30,000 Number of years 5, Interest rate is 6% per…
Q: A loan is released today to be paid in 6 equal payments at the end of 6 quarters. If the interest is…
A: The loan is the amount that a borrower receives from the lender and pays it back in future along…
Q: A P150,000 loan is to be paid as follows: P 10,000/month _______ 1st to 10th month Final payment…
A: Loan = 150,00 Time Period = 12 months Interest Rate = 12%/12 = 1% per month Payment from 1st to 10th…
Q: Money borrowed today is to be paid in 6 equal payments at the end of 6 quarters. If the interest is…
A: Here, Quarterly Payment is P2,000 Interest Rate is 12% Compounding Period is Quarterly i.e. 4 Time…
Q: If you borrow $25,000 at an interest rate of 6%, compounded annually, with the repayment schedule as…
A: We need to discount all the future cash flows from year 1-4 and year 5-9 so that the total sum of…
Q: Consider a loan of $2100 at 7% compounded quarterly, with 6 quarterly payments. Find the following.…
A: An amortized loan is a loan that is repaid slowly by paying equal installments. The balance of the…
Q: Quarter-end payments of $1,480 are made to settle a loan of $37,480 in 9 years. What is the…
A: Loan amount "PV" is $37,480 Quarterly payments "PMT" is $1,480 Time period is 9 years To find:…
Q: What rate compounded monthly was charged on a loan of ₱3500.00 repaid in monthly installments of…
A: Loan = 3500 Monthly Installment = 107.19 Time Period (N) = 39 months
Q: 5. A man takes out a loan of P150, 000 from a credit cooperative, which charges interest at the rate…
A: Simple interest: Simple interest is the amount of interest that is determined for a principal amount…
Q: A $17000 loan is to repaid by monthly payments of $390, the first payment is due in one year's time.…
A: given, pv = $17000 pmt = $390 r=10% m=12
Q: The monthly payment is $430.33. What is the total interest paid on a loan of $5,000 at APR = 6% for…
A: Monthly payment = $430.33 Number of monthly payments = 12 Loan amount = $5000 Interest rate = 6%
Q: How much interest is earned in 5 years on P50,000 deposited in a bank paying 3% interest per annum,…
A: Compound Interest = P(1+r/n)^nt - PWhere P = Principal = P50,000R = Rate on interest = 3%N = number…
Q: A loan is repaid by making payments of $2000 at the end of every six months for 12 years. If…
A: Semiannual payment (c) = $2000 Semiannual period (n) = 24 (i.e. 12 years * 2) Nominal interest rate…
Q: a 5-year $10,000 loan requiring monthly payments at a fixed rate of 9% is amortized into five-year…
A:
Q: A P22,000 loan bearing interest at 9.6% compounded bimonthly was repaid, after a period of deferral…
A: Interest rate (r) = 9.6% per annum = 9.6%/24 per bimonthly = 0.4% Bimonthly payment (B) = P 2600…
Q: An amount of P dollars is borrowed for the given length of time at an annual simple interest rate of…
A: Amount due at the end of period can be calculated as sum of borrowing and simple interest
Q: Questions 1 and 2 use the following information: A loan of $30451 requires payments of $7751 made at…
A: Given: Loan = $30,451 Interest rate =5.74% Payment = $7,751
Q: A $30,000 loan with an interest rate of 9% compounded monthly was repaid, after a period of…
A: Here, Loan Amount is $30,000 Interest Rate is 9% Monthly Payments is $450 Time period of Monthly…
Q: Find i (the rate per period) and n (the number of periods) for the following loan at the given…
A: Given Information Semi-Annual Payments = $4800 Time Period = 17 years Interest rate = 7.45%…
Q: Determine monthly installment loan p 53000 r 6.5 % Payment in a year 12 t 4 years
A: The question gives the following information:
Q: A loan of P40,000.00, with interest at 6% payable semiannually is to be amortized by equal payments…
A: Loan (X) = P 40000 r = 6% per annum = 3% semiannually n = 5 years = 10 payments Let periodic payment…
Q: Compute the simple interest of a loan amounting to P50,000.00 payable in 8 months if the interest…
A: Simple Interest: Simple interest is a method of calculating the interest that is charged on fixed…
Q: Find i (the rate per period) andn (the number of periods) for the following loan at the given annual…
A: Given information: Quarterly payment $1,125 Number of years is 9 Annual interest rate is 7.4%
Q: Find i (the rate per period) and n (the number of periods) for the following loan at the given…
A: The annual interest rate that is charged by the lenders or at which the investors earn additional…
Q: what is the total amount of the monthly payments for a 5-year loan is $10,692. The APR is 7%. How…
A: Using the present value of annuity formula we can calculate the original amount borrowed…
Q: compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was…
A: In this we have to calculate present value FACTOR and than find out semiannual payment.
Q: A new loan at 9% compounded quarterly requires quarterly paymets of $727.88 for seven years. Rounded…
A: Interest rate = 9% Quarterly interest rate (r) = 9%/4 = 2.25% Quarterly payment (P) = $727.88 Period…
Q: A bank charges an interest rate of interest is 6% compounded annually. A customer takes a loan of…
A: In order to find the outstanding balance one has to deduct the payment from the loan amount.
Q: A loan of $3000 is to be repaid by level monthly installments in arrears over a period of 3 years.…
A: Annual percentage rate (APR) refers to the annual cost of funds borrowed.
Q: Monthly payments of P800 each are used to settle a loan for 8 months at 8% compounded monthly. Find…
A: Monthly payment (P) = P 800 Interest rate = 8% Monthly interest rate (r) = 8%/12 =…
Q: A loan of X pesos will be paid in 48 equal monthly payments, starting 6 months from the release of…
A: Loan – X Monthly payment – P 5782 Interest rate – 18% p.a. c.m. or 18/12 = 1.5% p.m. Time – 48…
Q: Find the amount owed at the end of 5 years if $1600 is loaned at a rate of 9% compounded monthly.…
A: Loan is an amount borrowed from a lender and is expected to repay the amount including interest.…
Q: A loan of £8,000 is to be repaid by level monthly instalments of £ 185 in arrear over a period of 4…
A: Using excel Rate function
Q: What is the size of the final payment of money is borrowed at 6% Compounded semi annually?
A: Loan payment: These are periodic payments made by the borrower to the lender for the amount of…
Q: How much principal will be repaid during the first year of end-of-month payments of $760 on a…
A: given, pmt = $760 pv =$39000 r=11% n =1 m=12 (monthly compounding)
Q: The principal P=$6600 is borrowed at simple interest rate r=5.5% for a period of time t=15…
A: Given: P = $6,600 r = 5.5% t = 15 months Formula: Simple Interest = Prt
Q: The other photo is the example of the format of the supposed answer (solution and Excel). Thank you…
A: Information Provided: Loan amount (P) = 1,400,500.00 Interest rate (j) = 5+1/8% = 5.125% Years (t)…
Q: Money borrowed today is to be paid in 6 equal payments at the end of 6 quarters. If the interest is…
A: A study that proves that the 1value of money today is higher than the future value of money is term…
Q: Consider a loan of Php 40,000, payable for 24 months at an interest rate of 8% compounded monthly.…
A: The periodic payment has two components. One is the interest amount and another is the repayment of…
Q: A loan of P50k requires quarter payments of P2875 over 10-year period. These payments include…
A: Loan amount (L) = P 50000 Quarterly payment (Q) = P 2875 Duration (n) = 10 years = 40 payments Let r…
Q: How much interest is deducted in advance from a loan of P18,000.00 for one year and 6 months if the…
A: Given Information : Amount of loan = P 18,000 Period of loan = 1 year 6 months = 1.5 years Discount…
Q: The 12% add on loan is to be repaid in monthly installments over 2 years. The amount borrowed was…
A: Calculation of Monthly Payment:The monthly payment is $279.Excel Spreadsheet:
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A: Future Value is the value of current investments at a certain future date at the assumed…
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A: Time value of money (TVM) refers to the method or technique which is used to measure the amount of…
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A: The future value function or concept can be used to determine the future value of a present sum or…
Q: A loan of £5,000 is to be repaid by level monthly instalments in arrear over a period of five years,…
A: The conceptual formula used:
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- On January 1, Southwest College received $1,200,000 in Unearned Tuition Revenue from its students for the spring semester, which spans four months beginning on January 2. What amount of tuition revenue should the college recognize on January 31? Group of answer choices $300,000. $800,000. $900,000. $600,000.Assume there is a shortage of full-time academic staff. List at least five actions that the university might take to accommodate the growing student numbers.The actual and planned data for Underwater University for the Fall term were as follows: Actual Planned Enrollment 4,500 4,125 Tuition per credit hour $120 $135 Credit hours 60,450 43,200 Registration, records, and marketing costs per enrolled student $275 $275 Instructional costs per credit hour $64 $60 Depreciation on classrooms and equipment $825,600 $825,600 Registration, records, and marketing costs vary by the number of enrolled students, while instructional costs vary by the number of credit hours. Depreciation is a fixed cost. Prepare a variable costing income statement showing the contribution margin and operating income for the Fall term. Underwater University Variable Costing Income Statement For the Fall Term Revenue $ Variable costs: Registration, records, and marketing costs $ Instructional costs Total variable costs $ Contribution margin $ Depreciation on classrooms and equipment Operating income…
- On July 1, Wiggins Associates enters into a contract to provide consulting services to Pennsylvania University (PU). The contract is anticipated to last four months and is intended to achieve significant cost savings at the university. The contract stipulates that PU will pay Wiggins $25,000 at the end of each month, and, if total cost savings reach a specific target, PU will pay an additional $20,000 to Wiggins at the end of the contract. Wiggins estimates a 75% chance that cost savings will reach the target.Assume that Wiggins estimates uncertain consideration as the most likely amount. Required:Do the following for Wiggins:a. Prepare the journal entry on July 31 to record the first month of revenue under the contract.b. Assuming total cost savings exceed the target, prepare the journal entry, if any, on October 31 to record receipt of the $20,000 bonus (ignore the normal October payment of $25,000).c. Assuming total cost savings do not reach the target, prepare the journal entry, if…On December 1, 2019, AwakcAllNight Inc. sells 5,000 super caffeinated candy bars to Campus Grocers. The candy bars sell for 3 per bar. In addition, AwakcAllNight pays Campus Grocers a 900placement fee to ensure that its candy bars are always stocked prominently by the cash register. The 900 is paid at the end of each month based on the results of random inspections of Campus Grocers by AwakcAllNight to ensure that the terms of the contract are being followed. Required: 1. Determine the transaction price for Awake AllNights revenue contract. 2. Prepare AwakeAllNights journal entries to recognize sales revenue and pay Campus Grocers the placement fee.Ivanhoe Magazine Ltd. is a small company run by two enterprising university students. They publish an issue of the magazine once a month from September through April. The magazine reports on various university activities and provides information such as how to get the best concert tickets, where to get the best pizza for the best price, where the good study spots are, and how to get library staff to help with research. The magazine is sold either on a prepaid subscription basis for $12 for all eight issues, or for $2 per issue. During September, 1,650 subscriptions were sold. Up to the end of December, a total of 10,725 single copies were sold. The company also pre-sells advertising space in the magazine to local businesses that focus on the student market. During July and August, the company signed up several businesses and collected $16,500 in advertising revenues. The advertisements are to be included in all eight issues of the magazine. The cost of printing and distributing the…
- West Virginia State University has a policy of hiring full-time students to work in its bookstores and cafeterias. Assuming that 136 students work for the university at minimum wage rates, what is the amount of pay they will receive for a biweekly pat period, assuming they each work 28 hours per week? (Don don't round intermediate calculation and round 2 decimal places) WV-8.75Veras Bus Transportation provides on-campus bus services for universities. On January 1, it enters into a one-year contract with Moose University to operate five bus lines traveling throughout the campus. Under the contract, Veras will be paid $110,000 on the last day of each month. In addition, Veras will receive an additional $130,000 at the end of each six-month period, provided it remains free of accidents. On January 1, based on historical experience, Veras estimated that there is a 70% chance that it will remain free of accidents for the entire year. On March 20, three of the most senior drivers at Veras abruptly left. As a result, Veras had to hire inexperienced drivers to fill the vacant positions. Consequently, Veras revised its estimate to a 30% chance that it would be entitled to receive the semiannual bonus and decided to continue this 30% probability estimate until its six-month review at the end of June. On June 30, Moose confirmed that there was no accident between…The university satellite office operates five days per week with a daily payroll of $5,000. Employees are paid every Saturday for the workweek just completed (Monday through Friday). The last day of the month is Wednesday, October 31. What is the effect of the correct adjustment at October 31? A. Decrease Wages Expense and increase Wages Payable by $15,000 B. Increases Wages Payable and increases Wages Expense by $25,000 C. Increase Wages Payable and decreases Cash by $10,000 D. Increases Wages Expense and increases Wages Payable by $15,000
- On January 1, Eastern college received $1,300,000 from its students for the spring semester that it recorded in Unearned Tuition and Fees. The term spans four months beginning on January 2 and the college spreads the revenue evenly over the months of the term. Assuming the college prepares adjustments monthly, what amount of tuition revenue should the college recognize on February 28? ____ $325,000. _____ $650,000. _____ $900,000. _____ $975,000.The registration advisors at a small Midwestern university (SMU) help 4,200 students develop their class schedules and register for classes each semester. Each advisor works for 10 hours a day during the registration period. SMU currently has 10 advisors. While advising an individual student can take anywhere from 2 to 30 minutes, it takes an average of 12 minutes per student. During the registration period, the 10 advisors see an average of 300 students a day on a first-come, firstserved basis. The head of the registration advisors at SMU has decided that the advisors must finish their advising in 2 weeks (10 working days) and therefore must advise 420 students a day. However, the average waiting time given a 12-minute advising period will result in student complaints, as will reducing the average advising time to 10 minutes. SMU is considering two alternatives: a. Hire two more advisors for the 2-week (10-working day) advising period. This will increase the available number of…The registration advisors at a small Midwestern university (SMU) help 4,200 students develop their class schedules and register for classes each semester. Each advisor works for 10 hours a day during the registration period. SMU currently has 10 advisors. While advising an individual student can take anywhere from 2 to 30 minutes, it takes an average of 12 minutes per student. During the registration period, the 10 advisors see an average of 300 students a day on a first-come, firstserved basis. The head of the registration advisors at SMU has decided that the advisors must finish their advising in 2 weeks (10 working days) and therefore must advise 420 students a day. However, the average waiting time given a 12-minute advising period will result in student complaints, as will reducing the average advising time to 10 minutes. SMU is considering two alternatives: a. Hire two more advisors for the 2-week (10-working day) advising period. This will increase the available number of…