3. The price of a certain item is P1,000, payable in O days but if paid in 30 days there will be a P30 liscount. Find the rate of simple interest
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- The price of a certain item is 10000, payable in 10 days but if paid in 30 days there will be a P30 discount. Find the rate of simple interest?Q1. (10 marks) You are considering taking a housing loan. The loan amount is INR 40 lakhs. If the loan period is 20 years and the annual rate of interest is 9.20%, what would be your monthly instalment? What will be the % change in EMI if the loan Deriod increases to 25 years? (all answers should be correct in INR and correct to two decimals.)(6) Suppose you are paying GHS 51.88 per week for 14 years to repay a GH¢18,000 loan. What is the annual effective interest rate.
- The tag price of a certain commodity is payable in 100 days but if paid in 30 days there will be a 3% discount. Find the annual rate of simple interest. 12.24% 15.91% O 13.91% O 27.07%Compute the simple interest INT for the specified length of time and the future value FV at the end of that time. Round all answers to the nearest cent. You borrow $78,000 for 10 months at 0.03% per month. X INT = $ FV = $Answer the following Compound Interest problem using the provided formula ONLY. Show your complete solution. 7. Compound Interest A. If the sum of P 12,000 (pesos) is deposited in an account earning interest rate of 9% compounded quarterly, what will it become after 1 year? B. In the previous problem, what is the effective rate? C. What is then the equivalent nominal interest rate if compounded monthly?
- D3) Finance Calculate the price of an FRA (Forward Rate Agreement) that starts in 30 days and ends in 60 days (30F60), the 30-day rate is 8.50%, and the 90-day rate is 9.50%. Mathematically check that it is equivalent to invest 100 pesos for 60 days vs. Invest 100 pesos for 30 days at the 30-day rate and the result is to invest 30 days plus the Forward rate.10. If P 11 200 is the present value of P 13 700 due at the end of 16 months, find a. discount interest rate Answer: b. simple interest rate Answer:Determine the simple interest. The rate is an annual rate. Assume 360 days in a year. p = $340, r = 5.75%, t = 5.25 years The simple interest is $ (Round to the nearest cent as needed.)
- 3) Find the discount rate if P10,000 is the present value of P10,500 which is due at the end of 4 months.Assuming you bought a 182-day Treasury Bill with a face value Ghc 20,000.00 and held it for 45days. If you want to sell it and interest rate is currently at 25%, at what price will you sell it?Find the initial monthly payment on a 3/20 ARM of $178,802 if the interest rate is 5.35%. How long will it be before the interest rate can change?
