3. Mrs. Reyes invested P20,000 which accumulates to P22,500 in 10 months. Find the simple interest rate. Your answer
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- Smith invests usd 10.000 in an account that pays interest. After the first year he receives 4.200 interest. What is the value of r, the rate of interest?Suppose Allison purchases a condominium and secures a loan of P13,400,000 for 30 years at an annual interest rate of 6.5%. a. Find the monthly mortgage payment. b. What is the total of the payments over the life of the loan? c. Find the amount of interest paid on the loan over the 30 years1. How much final amount would Emmanuel receives if he invests P250,000 for 1 year and 6 months at 12% simple interest? 2. Your savings deposit of P7,000 earns a simple interest of 5%. How much is the interest for 9 months? 3. Brian borrowed from his friend, Mark, P9,000. He repaid the P9,600 after 15 months. What was the simple interest rate?
- Engr. Tongol borrowed money from a loan shark. He receives from the loan shark an amount of P 134,200 and promise to repay P 150,000 at the end of 1 year and 9 months. What is the simple interest rate?Direction: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for the scenario below using a simple interest assumption and compound interest assumption. Your brother borrowed from your neighbor ₱7,000 to buy a new mobile phone. The neighbor charged 11% for the borrowed amount payable after three years.Ruth borrowed P200,000.00 with 20% simple interest rate from ABC bank. At the time the money was borrowed, the interest was deducted. After a year, Ruth has to pay P200,000.00. What is the actual interest rate? Assessment 1) Compute the simple interest of P125,000.00 at 4% for 18 months. 2) Compute the future value of P84,000.00 at 8 ½ % for 5 years. 3) Find the simple interest rate of an initial amount of P76,000.00 for 3 years with an interest of P5,700.00. 4) If you are to lend money with simple interest, one with P146,050.00 at 3.7% for 8 years and the other one with P164,400.00 at 2.8% for 9 years, which one will earn more? 5) How long will it take P6,000.00 to double at 10% simple interest?
- Please help me answer the following time value of money question. Michael makes a $500 investment. At the end of 5 years, he has 700. Assuming that the interest is compounded monthly, what is the interest rate earned on his investment?4. Sandy borrowed 20039 R.O from a bank to buy a piece of land. If the bank charges 12 1/3% compounded each two months, what amount will she have to pay after 2 years and half? Also find the interest paid by her?1. John invested Php1000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will John earn in 15 years? 2. Judy borrowed Php500 at an annual interest rate of 8%. At the end of the loan period she had to pay back Php530. How long was the loan for?
- Every three years, D will pay Mr. J 5,000 at 8% rate to settle his loan. Mr. D will use which formula to compare with cash payment? A. Future value of IB. FV of AnnuityC. Present Value of ID.Elle earns $238.50 in an investment of $1,700 over 1.5 years. What rate of simple interest did the investment earn? Answer in percentage format correct to 2 decimal places. Your Answer: Answer1. You deposit GHS10,000 today into an account paying 6% annual interest and leave it on deposit for exactly eight years. Required: How much will be the amount in the account at the end of eight years if interest is compounded annually? 2. Imagine you are a professional personal finance planner. One of your clients ask you the following question. Use time value of money technique to develop appropriate responses in each question. I borrowed GHS75,000, am required to repay it in six equal (annual) end of year instalments of GHS3,344 and want to know what interest rate I am paying.