ECONOMICS An item worth P60,000 is payable in 60 days or P57,500 payable in 15 days. Find the equivalent annual rate of simple interest if paid in 60 days. Which of the following has the least effective annual interest rate?
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- Find the equivalent annual payment of the following obligations at 20% interest rate. End of Year Payment 1 P 8,000 2 P 7,000 3 P 6,000 4 P 5,000Deposits of 35 000.00, 48 000.00, and 25 000.00 were made in a savings account eight years, five years, and two years respectively. Determine the accumulate amount in the account today if a withdrawal of 55 000.00 was made four years ago. The applied interest rate is 12% compounded continuously.A man borrowed P20,000 from a local commercial bank which has a simple interest of 16% but the interest is to be deducted from the loan at the time that the money was borrowed and the loan is payable at the end of one year. How much is the actual interest rate.
- . Determine the exact simple interest on P 5,000.00 for the period from May 16 2016 to October 18, 2022 if the rate of interest is 15%3. On january 1, 2016, Diana opened an account with a P 50,000 deposit. On january 1, 2017, she withdraws P 25,000 and on january 1, 2019 she deposits P 75,000. If the account earns 7.5% interest, compounded yearly, and no further deposits or withdraws are made, what was the balance on january 1, 2021?Determine the equivalent amount pf money at the beginning of the second year if interest is 6% per year, compounded monthly
- If the nominal annual interest rate is 6% compounded monthly, what is the effective quarterly interest rate? O a. 3.28% O b. 2.10% O c. 1.51% O d. 2.14% O e. 1.76%Solve Problem 20.25 using Excel.2. Attach a complete solution. Draw the cash flow diagram. Suppose that P 4500 is deposited each year into a bank account that pays 8% interest compounded quarterly. How much would be accumulated in his fund by the end of the 4th year? The first payment occurs at time zero (now).
- An amount of $ 500 was borrowed for the period from January 10 to October 28, 1996 at 16% interest. a) Calculate the exact simple interest. b) What is the total amount to be paid at the end of the period?Question 7 A man bought a lot worth P1.1M if paid in cash. On the installment basis, he paid a down payment of P200,000, P300,000 at the end of one year, P400,000 at the end of three years, and a final payment at the end of five years. What was the final payment if interest was 16.3%? Express your answer in whole number. Question 7 of 50 A Moving to another question will save this response. acer F10 F11 F12 PrtSc Pause Del Home Pg Up F4 F5 F6 F7 F8 F9 F2 F3 Scr Lk SysRq Break Ins Coca' & %23 -Backspace Nuc Lo 4. € 6. 7 8 E R T Y3. A machine having a first cost of P 60,000.00 will be retired at the end of 8 years. Depreciation cost is computed using a constant percentage of the declining book value. What is the total cost of depreciation in pesos, up to the time the machine is retired if the annual rate of depreciation is 28.72%? A. 56,000 C. 58,000 B. 57,000 D. 59,000