National bank is willing to lend a customer P75,000. The note will be secured by a 5-year mortgage and carry an annual interest rate of 12%. Equal payments are to be made at the end of each year over the 5-year period. How much will the yearly payment be? (show the step by step solution)
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National bank is willing to lend a customer P75,000. The note will be secured by a 5-year mortgage and carry an annual interest rate of 12%. Equal payments are to be made at the end of each year over the 5-year period. How much will the yearly payment be? (show the step by step solution)
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- If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?What is the effective interest rate charged to a loan of P5,000 paid after 5 years amounting to P7,250? What is the nominal rate if it is compounded semi-annually? upload your solution with signature sifan ?A bank is negotiating a loan. The loan can either be paid off as a lump sum of $140,000 at the end of five years, or as equal annual payments at the end of each of the next five years. If the interest rate on the loan is 10%, what annual payments should be made so that both forms of payment are equivalent? A.
- What would the required payment be on a K1,000 loan that is to be repaid in three equal installments at the end of each of the next three years if the interest rate is 10%?National bank is willing to lend a customer P75,000. The note will be secured by a 5-year mortgage and carry an annual interest rate of 12%. Equal payments are to be made at the end of each year over the 5-year period. How much will the yearly payment be?Answer the given problem below. Attach a complete solution. A loan of P5000 is made for a period of 13 months, from January 1 to January 31 the following year, at interest rate of 20%. What future amount is due at the end of the loan period for an (a) ordinary and (b) exact interest rate?
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