Annie buys a television set from a merchant who ask P1250 at the end of 60 days. Annie wishes to pay immediately and the merchant offers to compute the cash price on the assumption that money is worth 8% simple interest. What is the cash price? Enter your answer
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- Annie purchases a television from a salesman who promises her 25,000 if she returns it in 61 days. Annie requests urgent payment, and the merchant agrees to calculate the required amount based on the assumption that money is worth 14.14% simple interest. What is the minimum amount required? 3 decimal places asap thank youAnnie buys a television set from a merchant who ask P1, 250 at the end of 60 days. Annie wishes to pay immediately and the merchant offers to compute the cash price on the assumption that money is worth 8 % simple interest. What is the cash price.Anne buys a television set from a merchant who asks for P1,250 at the end of 60 days. Mr. Ureta wishes to pay immediately and the merchant offers to compute the cash price on the assumption that the money is worth 13% simple interest. What is the cash price? A. P 1,342.12 B. P1,223.45 C. P 1,233.55 D. P 1,324.21
- Derek has the opportunity to buy a money machine today. The money machine will pay Derek $35,200.00 exactly 11.00 years from today. Assuming that Derek believes the appropriate discount rate is 7.00%, how much is he willing to pay for this money machine? Submit Answer format: Currency: Round to: 2 decimal places.You wish to buy a $10,000 dining room set. The furniture store offers you a three-year loan with an 11 percent APR. What are the monthly payments? How would the payment differ if you paid interest only? What would the consequences of such a decision be?28. Annie buys a television set from a merchant who asks for P1,250 if paid at the end of 60 days. However, Annie wishes to pay immediately and the merchant offers to compute the cash price now. What is the cash today if money is worth 8% simple interest?
- Suppose that after buying a new car you decide to sell your old car to a friend. You accept a 290-day note for $6500 at 20% simple interest as payment. (Both simple and principal interest are paid at the end of 290 days.) 100 days later you find that you need the money and sell the note to a third party for $5500. What annual interest rate will the third party receive for the investment? Express your answer as a percentage, correct to three decimal places.In buying a computer disk, the buyer was offered the options of paying P250 cash at the end of 30 days or 270 at the end of 120 days. At what rate is the buyer paying simple interest if he agree to pay at the end of 120 days. Answer: r = 32%10. Elvie buys a bill of goods from Robert who asks 1,250 at the end of 3 months. Elvie C wishes to pay immediately and Robert offers to compute the cash price on the assumption that money is worth 8% simple interest. Find the cash price.
- In buying a cellphone, the buyer was offered the options of paying P 17,500 cash or P 22,200 at the end of 152 days. At what rate is the buyer paying simple interest if he agrees to pay at the end of 152 days? 6. A bill for a cellphone specifies the cost as P 25,400 due at the end of 100 days but offers a 4% discount for cash in 24 days. What is the highest simple interest rate at which the buyer can afford to borrow money in order to take advantage of the discount? 7.Your friend wants to buy a ring for $400 using a credit card. He would pay 2% of the price each month, which would be $8. He would have to make payments for 95 months. Calculate the total cost of the purchase with Write a letter to him about your opinion of the deal.A friend asks to borrow $50 from you and in return will pay you $53 in one year. If your bank is offering a 6.2% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $50 instead? b. How much money could you borrow today if you pay the bank $53 in one year? c. Should you loan the money to your friend or deposit it in the bank? a. How much would you have in one year if you deposited the $50 instead? If you deposit the money in the bank today you will have $ in one year. (Round to the nearest cent.) b. How much money could you borrow today if you pay the bank $53 in one year? You will be able to borrow S today. (Round to the nearest cent.) c. Should you loan the money to your friend or deposit it in the bank? (Select from the drop-down menu) From a financial perspective, you should as it will result in more money for you at the end of the year.