Pau’s company borrows Php 500,000 from the local bank to invest in a personal computer for the quality control department on the term that the company will pay back Php 120,000 each year for the next 5 years. The first payment is due on the first loan anniversary. What interest rate the bank is charging if compounding is annual?
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1. Pau’s company borrows Php 500,000 from the local bank to invest in a personal computer for the quality control department on the term that the company will pay back Php 120,000 each year for the next 5 years. The first payment is due on the first loan anniversary. What interest rate the bank is charging if compounding is annual?
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- Suppose an engineer purchases a home and secures a loan of ₱2.5M from a commercial bank for 20 years at an annual interest rate of 9%. Find the monthly amortization of the loan. How much is the total amount paid over the life of the loan in Problem 1? How much is the total amount of interest paid over 20 years in Problem 1? I hope you can help me. Thank youuSuppose an engineer purchases a home and secures a loan of ₱2.5M from a commercial bank for 20 years at an annual interest rate of 9%. Find the monthly amortization of the loan. How much is the total amount paid over the life of the loan in Problem 1? How much is the total amount of interest paid over 20 years in Problem 1?3. The PC Shop obtains a loan from a finance company. It is to be repaid by quarteny payments of Php 50,000, the first of which is due at the end of 2 years and the lastat the end of 6 years. If the interest rate of the loan is 16% compounded quarterly, how much is the amount borrowed?
- 9. A man borrows Php10,000 from a loan firm. The rate of simple interest is 15%, but the interest is to be deducted from the loan at the time the money is borrowed. At the end of one year he has to pay back Php10,000. What is the actual rate of interest?1. Compute the initial value of the money if the borrower needs deposit the accumulated amount of P59, 137 to the bank after 8 months and 24 days if the money has the interest rate of 19% per annum. 2. What is the equivalent percent of 20% compounded quarterly if converted to compounded monthly? 3. The Philippine Association of Board Examiners (PABE) desires to award a P1,600 scholarship annually to deserving students for as long as its scholarship fund shall last. The fund was started July 1, 1977 by a donor in the amount of P24,000. The PABE invested this sum at that time at 4% per annum and plans on adding P200 each year to the fund from its dues Starting July 1, 1978 for as long as awards are made. A. For how many years starting July 1, 1978 can scholarship be awarded? B.What will be the balance in the fund after the last award was made?The owner of a restaurant needs to borrow ₱120,000 from a bank to buy some equipment. The bank will give the owner a discounted loan at 11% rate of interest for 9 months. What loan amount should be used so that the owner will receive ₱120,000?
- 2. If Php 80,000 is invested at the rate of 6-% compounded annually, when will it earn interest of Php 15,000? 3. The PC Shop obtains a loan from a finance company. It is to be repaid by quarterly payments of Php 50,000, the first of which is due at the end of 2 years and the last at the end of 6 years. If the interest rate of the loan is 16% compounded quarterly, how much is the amount borrowed?The company is planning to purchase a new office building and will need to borrow $750,000. The loan will be repaid over 20 years and the bank is charging an interest rate of 7% annually. What will the MONTHLY loan payments be? (Round to 2 decimals) 70794.69 5899.56 5814.74 4956.52A bank offers a 12% interest to be compounded annually. How much should a teacher deposit now if he wants to receive Php. 15,000 at the end of each year for 5 years? Note: annuity is Php 15,000... a. Php 64072 b. Php 54071 c. Php 45070 d. Php 56072 O a ο ο οι O b C d
- 1. A loan of Php 40,000.00 with interest rate of 15% compounded biannually, is to be discharged by a series of 10 payments twice a year. The first payment to be made 6 months after the loan is finalized. The first 6 payments are worth Php 6000.00 each, while the remaining will be equal in amounts such that the final payment will liquidate the loan. What is the amount of the remaining payments? 2. Using the same information above, but the payment is uniform and the number of period is extended by half, how much would each payment be?2.26. A downtown bank is advertising that if you deposit $1,000 with them, and leave it there for 65 months, you can get $2,000 back at the end of this period. Assuming monthly compounding, what is the monthly rate of interest paid by the bank?You deposit Php10,000 in a bank and plan to keep it there for five years. The bank pays 8% annual interest compounded continuously. Calculate the future value at the end of five years. A. Php14,693 B. Php15,000 C. Php14,918 D. Php14,500