Month Unpaid Monthly Principal Total New Interest Payment Payment Balance

Q: A motor corporation sells cars for P dollars, 40% of which must be paid in cash. The unpaid balance…

A: Time value of money- It is based on the concept that money earned today is worth more than similar…

Q: If the finance charge on a loan made by Marjorie Young is $1,950 and the loan is to be paid in 24…

A: A loan amount represents the amount borrowed at a fixed interest rate to be repaid over a fixed…

Q: What is the finance charge (in $) on the loan? $   (b) Use Table 13-1 to find what annual percentage…

A: Finance Charge: It is the cost in relation to borrowing money or the payment of any loan…

Q: You agree to make 24 deposits of Php500 at the beginning of each month into a bank account.  At the…

A: An annuity is a series of cash flows with a fixed amount at equal time intervals for a specific…

Q: • Several payments are to be made by a person with a lot of debts. 1st payment: P2,000 compounded…

A: A debt is anything that one party owes another. Amounts owing on credit cards, vehicle loans, and…

Q: Mary bought a bike payable monthly for 10 months starting at the end of the month. How much is the…

A: Mortgage is a loan to buy an asset. The cost of the asset will be paid in equal instalments of…

Q: A man borrowed a certain sum of money from a bank which charges interest at 18%, compounded…

A: The borrowed amount is calculated as the present value of payments

Q: A washer-dryer combination can be purchased from a department store by making monthly credit card…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Prisha received a loan of $25,000 from the bank at 3.50% compounded monthly. If she had to repay…

A: Solution:- When an amount is borrowed, it can either be repaid as a lump sum payment or in…

Q: A person borrows $3,000 on a bank credit card at a nominal rate of 18% per year, which is actually…

A: Annual Percentage Rate It  the total  interest paid  each year which is before consideration for the…

Q: Malik took out a loan for $27,800 from CIBC at 5.51% compounded quarterly, and will be making…

A: We need to use financial calculator to solve this problem  where P/Y =Payments par year C/Y…

Q: Calex applied for a business loan of Php 750,000, to be repaid in monthly installments of Php…

A: We need to use NPER function in excel to calculate number of monthly payments.  The formula is…

Q: In the situation where Ahmad are depositing $1,000 per month in a savings account that pays 6…

A: Payment period is the no. of times money is deposited in a year. compounding period is the no. of…

Q: An electric cooperative charges 5% per month on any past due bills. If your bill of Php 4215.25 bill…

A: Monthly interest rate (r) = 5% Due bill (P) = Php 4215.25 Period (n) = 6 Months

Q: Suppose that you borrow $10,000 from a bank to purchase a car. You agree with the bank to repay the…

A: Given: Particulars Amount Loan $10,000 Interest rate 16% Years 1

Q: Bennington Company has borrowed a certain amount from the bank that it will repay in 24 monthly…

A: The term mortgage loan represents the amount borrowed by one person to acquire a house or other real…

Q: A man obtained a loan from the bank worth P 400,000.00 payable within 4 years from the time the loan…

A: Mortgage payments are the monthly payments of the loan amount borrowed for a certain period of time.…

Q: Determine the following: The rate of simple interest. The corresponding discount rate.

A: Simple Interest: It is the interest amount calculated by charging the interest rate on the…

Q: An individual makes five deposits that increase uniformly by Php. 300.00 every month in a saving…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: Anita put up a bank account with an initial deposit Lou f P25, 000. After six months, she deposited…

A: Simple interest is the amount earned only on the investment principal.

Q: XYZ Bank pays simple interest of 2% with quarterly compounding for deposits in their savings…

A: LIFO method is also called Last -In first out method. Under this method money that is deposited at a…

Q: Using the credit card, Abby purchased a bag amounting to ₱15,000 payable in 3 months at 12% per…

A: Table Showing Total Interest paid

Q: a Let A, be the balance of the loan after n months. find series expression for An

A: Time value of money (TVM) refers to the method used to measure the amount of money at different…

Q: Mr. J. Dela Cruz borrowed money from a bank and he receives P1,340.00 and promised to pay P1,500 at…

A: Note: The question provided are two separate ones. In the first one, I have calculated both the…

Q: Determine the accumulated amount in the account just after the last deposit.

A: The first month deposit is 4500 the formula for monthly compounding is  CI = P(1 + (r/12) )12t - P…

Q: A man borrowed P 150,000.00 from the bank payable on the 1st day of every month for 2 years. If he…

A: An interest rate is a rate that is the cost of borrowing money.

Q: 1. Meghan Pease purchased a small sailboat for $8,350. She made a down payment of $1,700 and…

A: Finance charges on a loan are the extra amount of cash flow paid by the borrower to the lender in…

Q: Mary bought a bike payable monthly for 10 months starting at the end of the month. How much is the…

A: Present value is the sum of the current value of money of future cash flows. It is also known as a…

Q: 4. Clare borrowed money from a bank that charges interest at 10% compounded quarterly. She agreed to…

A: The amount which is borrowed by the borrower is known as the principal amount or the loan amount.…

Q: An individual makes five deposits that increase uniformly by Php. 300.00 every month in a saving…

A: Number of deposits = 5 Annual increase in deposits = Php 300.00 First deposit = Php. 4500.00…

Q: Onse took a loan of P2,000 that is repaid by a payment of P2,500 made 24 months later. Find the…

A: Loan amount is P2,000 Amount repaid is P2,500

Q: Mary bought a bike payable monthly for 9 months starting at the end of the month. How much is the…

A: We need to use the concept of time value of money (TVM) to solve the question. According to the TVM,…

Q: Warlo bought a laptop that is payable by monthly installment of ₱1,800 for 12 months starting at the…

A: Monthly payment = P 1800 Number of monthly payments = 12 First payment = After 2 months Annual…

Q: A landscape architect accrued $7,876.36 in credit card debt. If the architect makes a monthly…

A: The monthly payment will include payment towards both the principal amount and the interest amount.

Q: you deposited ₱5,000 from the savings of your daily allowance in a time  deposit account with your…

A: Solution:- When an amount is invested somewhere, it earns interest on it. The amount invested is…

Q: • • Several payments are to be made by a person with a lot of debts. 1st payment: P2,000 compounded…

A: Debt is defined as something, generally money, borrowed from one party by another. Many…

Q: Determine the monthly payment.

A: The time value of money is a concept that states that a sum of money has more value in the current…

Q: Today, Engr. Go borrowed money to be paid in 15 payments for 15 months. If the interest rate is 9%…

A: We need to use loan amortization formula to calculate loan amount or amount borrowed.  P…

Q: A bank loaned JL's Boutique money at 8% simple interest for 90 days. If the amount of interest was…

A: Given information, Simple interest(SI)=P4,000 Rate(R)=8% Time(T)=90 days =0.25 years

Q: A customer has to pay an amount (principal + interest) of PhP 32,230 as a pay a personal loan at the…

A: Today value of money required will be that loan without interest.

Q: Mary bought an LCD television and paid RM300 as a down payment. The balance was to be paid by…

A: Down payment = RM 300 Monthly payment (P) = RM 112 Annual interest rate = 10% Monthly interest rate…

Q: Ms. Wadeson obtained a $15,000 demand loan from TD Canada Trust on May 23 to purchase a car. The…

A: Prime rate is the benchmark rate which is used in the calculation of loan rate. In the floating…

Q: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual…

A: Formula: Interest amount = Accounts payable amount x Interest rate x Time period

Q: Layla puts PhP 45,000 into an account to use for future expenses. The account earns 13%, compounded…

A: Deposit amount (PV) = Php 45,000 Annual interest rate = 13% Interest rate quarterly (R) = 13%/4 =…

Q: Marlon borrowed 15,000 Php from a lending company that charges a simple interest rate of 11%.…

A: Borrowed amount = 15000 Php. Interest rate = 11%

Q: Tedros borrowed $2 million and planned to repay the loan by making equal month-end payments over a…

A:

Q: A man will deposit Php 200 with a savings and loan association at the beginning of each 3 months for…

A: Saving account is a financial facility offered to individuals who want to save their money. It…

Q: If you buy a computer directly from the manufacturer for $2,825 and agree to repay it in 48 equal…

A: Principal = $ 2825 Number of monthly installments = 48 Monthly interest rate = 1.94%

Q: Onse took a loan of P2,000 that is repaid by a payment of P3,500 made 24 months later. Find the…

A: Present Value refers to the discounted value of a single cash flow or multiple cash flows today…