Determine the ordinary and exact simple interest on P5,000.00 for the period of January 15 to June 20, 1993 (not a leap year), if the rate of simple interest is 14%
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Determine the ordinary and exact simple interest on P5,000.00 for the period of January 15 to June 20, 1993 (not a leap year), if the rate of simple interest is 14%
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- An individual is borrowing P100, 000 at 8% interest compounded annually. The loan is to be repaid in equal payments over 30 years. However, just after eight payment is made, lender allows the borrower to triple the payment. The borrower agrees to this increase payment. If the lender is still charging 10% per year, compounded annually, on the unpaid balance of the loan, what is the balance still owed just after the 12th payment is made?How much money should be deposited annually in a bank account for five years if you wish to withdraw $5,000 each year for three years, beginning five years after the last deposit? The interest rate is 4% per year. Click the icon to view the interest and annuity table for discrete compounding when i = 4% per year. The annual deposit amount should equal $ per year. (Round to the nearest dollar.)A geometric gradient that increases at f= 8% per year for 12 years is shown in the accompanying diagram. The annual interest rate is 12%. What is the present equivalent value of this gradient?
- What is the present worth of ₱ 500 deposited at the end of every three months for 6 years if the interest rate is 12 % compounded semi-annually? (Note: Do not include the Peso sign "₱" in your answer.)How much money should be deposited annually in a bank account for five years if you wish to withdraw $3,000 each year for three years, beginning five years after the last deposit? The interest rate is 4% per year. Click the icon to view the interest and annuity table for discrete compounding when i= 4% per year. The annual deposit amount should equal $ per year. (Round to the nearest dollar.) CIn order to make CDs look more attractive than they really are, some banks advertise that their rates are higher than their competitors', but the fine print says that the rate is a simple Interest rate. If a person deposits $7,500 at 3% per year simple interest, what compound Interest rate would yield the same amount of money in 3 years? The compound Interest rate that would yield the same amount of money in 3 years is 9.273 %.
- If ₱300 is earned in three months on an investment of₱12,000, what is the annual rate of simple interest?An engineer is planning for a 15-year retirement. In order to supplement his pension and offset the anticipated effects of inflation, he intends to withdraw₱5000 at the end of the first year, and to increase the withdrawal by ₱1000 at the end of each successive year. How much money must the engineer have in his savings account at the start of his retirement, if money earns 6% per year, compounded annually?What is the present value or price of a 10 year P20,000 annuity with an interest rate of 5%
- In 1915, Anas allegedly borrowed 7,000$ from a large New York bank on the condition that he would repay 7% of the loan every three months, until a total of 50 payments had been made. At the time of the 50th payment, the 7,000$ loan would be completely repaid. Anas computed his annual interest rate to be (0.07 x 7,000 x 4) ÷ 7,000 = 28%. What true effective annual interest rate did Anas pay? And what went wrong ?= 4. Calculate the present equivalent at i 15% per year using arithmetic gradient interest factors when the first year cashflow is $-8,000 and decreasing $1,000 per year until year 4. 5. Determine F equivalent values for a geometric sequence of cashflow that rate increase is 20% per year after the first year, and the interest rate is 25% per year for four years. The first-year cash flow is $1,000.A 25-year-old person wants to accumulate $750,000 by age 60. How much will she need to save each month, starting one month from now, if the interest rate is 0.5% per month? (Write the numeric value only, up to 2 decimal places)