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- Theory of Interest Compute for the time Value of Money Assume the date today December 13,2022. Coco borrowed P100,000 and wishes to repay Kobe at the end of each month with payments of P3,000 for as long as necessary. Coco is charged by Kobe 9% interest compounded monthly. How much extra payment does Coco have to settle one month after the last regular level payment to discharge this loan?Question 1 Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest rate. a) What is the implied per annual simple interest rate for her purchasing (expressed as a percentage and rounded to three decimal places)? Select one: a. 0.076 b. 0.032 c. 0.031 d. 0.088 Question 2 Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest rate. b) What is her selling price (rounded to four decimal places)? Select one: a. 98740.2903 b. 98634.0935 c. 98846.7161 d. 99317.7280 Question 3 Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest…Question 12 of 16 Hannah is expected to settle a loan on May 29th, 2019 by paying $4,000. What amount should she pay if she decides to settle it on July 16th, 2018 instead? The interest rate is 0.73% compounded semi-annually. Round to the nearest cent
- Phil has systematically contributed $3000 to his RRSP at the beginning of every three months for the past 17 years. If the RRSP has earned 8.8% compounded quarterly, what is the value of Phil's RRSP today? (Do not round Intermedlate calculations and round your final answer to 2 declmal places.) The value of the RRSP today $ 54600.00 connectQuestion 9 Assume that Sean and Catherine only pay the minimum payment on Credit Card #2 (balance $6,500). The minimum balance is 3% of the total balance. What is their minimum monthly payment? $195 Question 10 Using the BankRate calculator and the minimum payment you calculated above, if Sean and Catherine pay the minimum payment plus an additional $25, how many months would it take them to pay off their credit card loan based on a 15.9% APR?QUESTION 18 Joey realizes that he has charged too much on his credit card and has racked up $5,800 in debt. If he can pay $175 each month and the card charges 15 percent APR (compounded monthly), how long will it take him to pay off the debt? (Do not round intermediate calculations and round your final answer to 2 decimal places.) TIME TO PAY OF DEBT IN MONTHS?
- If you owe $47,000 payable at the end of five years, what amount should your creditor accept in payment immediately ifse cou earn 8 percent on her money? Use Appendix B for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Présent value eBook Hint ant Reterenc PV=F 47,0Assume that time today is Dec. 13, 2022. Determine what is being asked in each problem.1. Coco borrowed ₱100,000 and wishes to repay Kobe at the end of each month with payments of ₱3,000 for as long as necessary. Coco is charged by Kobe 9% interest compounded monthly. How much extra payment should Coco add to his last payment (paid along with the last payment) to completely discharge the loan?2. Coco borrowed ₱100,000 and wishes to repay Kobe at the end of each month with payments of ₱3,000 for as long as necessary. Coco is charged by Kobe 9% interest compounded monthly. How much extra payment does Coco have to settle one month after the last regular level payment to discharge this loan?QUESTION 19 Phoebe realizes that she has charged too much on her credit card and has racked up $4,900 in debt. If she can pay $250 each month and the card charges 12 percent APR (compounded monthly), how long will it take her to pay off the debt? (Do not round intermediate calculations and round your final answer to 2 decimal places.) TIME TO PAY OFF DEBT IN MONTHS?
- NO2.1 Today is January 1, 2021. Jason borrows from Jessica $239,037 and agrees repay her by monthly installments. Payments will increase at a rate of 0.5% per month. The first payment of $1,000 is to be made exactly one month from today. However, after Jessica has worked out the time it will take for the entire loan to be repaid, she thinks it is too long. She proposes cutting the repayment time in half. Also, instead of growing payments, Jessica prefers a constant amount paid at the end of each quarter. The effective annual interest rate is 10%.QUESTION 2 Billy Bourne makes $58972 annually. How much does Billy pay for his E.l. premium out of each paycheque if he is paid semi- monthly? Use 2022 rates. 4Joel borrowed $2776.55 on November 2, 2021 at 4.5% p.a. How many days would it take for him to re-pay the loan if he made a payment of $3466.76? Round up to nearest day.
