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Please solve question 2 ASAP. Thank you
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- 1. A man wishes to have P 100,000.00 on a bank that earns an exact simple interest rate of 10.50%. a. How much money should he deposit on an account to fulfill his wish if he decided to deposit it on February 20, 2016, and withdraw this account on February 20, 2017, and no other withdrawals will take place?1.) One hundred twenty days after borrowing money, Liz pays an interest of Php 215.00. How much did she borrow if the simple interest rate is 5 5/8 % 2.) Find the actual and approximate time from December 19, 2020, to June 6, 2021. Show the two solution 3.) Using the four methods, find the interest on Php. 4,400 at 5 4/5 % simple interest from September 9, 2020 to April 19, 2021b) Starting from 1* June 2021 with a fresh bank account, Ah Guan save RM320.00 into the bank account every month. A fixed interest of 0.8% is given on the last day of every month. Determine the date (the last day of a month after the interest is given) where he will be able to purchase a smartphone worth RM3126.00 *display your final answer as: [last day of the month] / month / year
- A man borrows money from a bank which uses a simple discount rate of 14%. He signs a promissory note promising to pay P500.00 per month at the end of 4th, 6th, and 7th month respectively. Determine the amount of money that he received from the bank. a. P1403.68 c. P1102.37 b. P1340.38 d. P1030.28Answer the following questions correctly and show your Solution.a. Find the actual time from October 5, 2019 to December 11, 2019 b. Thirty months is equivalent to c. How much money will you have after 4 years if you deposited Php 10,000.00 in a bank that paste 6 % simple interest.A woman went to the Beneficial Loan Company and borrowed S10,000. She must pay S323.53 At the end of each month for the next 60 months. A. What is the Monthly Interest rate she is paying? What is the Nominal Interest rate? С. What is the Effective Interest rate? Make your cash flow diagram and solve. B.
- A loan of $10,000 is taken out on November 7, 2020 at a simple interest rate of r = 9%. The loan will be paid back on May 11, 2021. If the bank uses ordinary interest (the Banker's Rule), how much interest is charged? a $450.00 b $456.16 c $443.84 d $462.507.Anna borrowed money from a bank charging 10% interest last January 12, 2020 and is due on June 12, 2020. If she paid Php5,500 at the end of the loan, what is the amount she borrowed considering exact simple interest? (Clue: Count all the days per monthJane Smart plans to make the following deposits in an account towards cash purchase of a real estate property. ΕΟΥ 1 3 Deposit $6,000 $20,000 2 $13,000 4 $27,000 cms (a) How much money will the account have immediately after the last deposit if the account earns an interest rate of 8% per year? (b) What is the equivalent uniform annual deposit? 5 $34,000 (a) The amount in the account after the last deposit is $ 111028 (to the nearest dollar). (b) The equivalent uniform annual deposit is $(to the nearest dollar)
- 11. Syamsina needs RM3,500 now.Find the amount the she should borrow for 200 days from a bank that charges 8.5% bank discount rate.(RM3673.47)a) You have a bank account that earns 6.8% interest rate. How much must you deposit (prinicipal) in order to have $4279 in your bank in 11 months? b) What is the interest rate?Brandon has reached his credit card limit of $5000.00. Using an online calculator, Brandon determined that if he pays $180.00 per month, it will take him 39 months to pay off the credit card. Which of the following represents the total interest Brandon will pay when his debt is paid off? A $1,700.40 B $2,020.00 C $1,100.00 D $858.10 Need ASAP please