A man loans P112,735 on March 9, 2010 and promise to pay the amount on July 17, 2014 at simple interest of 9.63% Determine the following: 1. Exact simple interest. 2. Ordinary simple interest.
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Hello! Why is the number of days for 2010 is 328? It started March 9, 2010.
by Bartleby Expert- Joseph borrowed P5,000.00 on November 2,2015 from Arthemus, which is to be paid on May 21,2016 at 6.2% simple interest per year. Find the amount to be repaid. How much will the interest be at the repayment date if the following time factors are used? A. Bankers rule B. Exact simple interest C. Approximate/360 D. Approximate/ 365 Show solution.1. On 23 January 2021, Sofie took a loan of RM7000 from a local bank that charged r% simple interest per annum. By using Banker's Rule, Sofie settled her loan on 18 May 2021 by paying RM7134.17. Find: a) the term of the loan. b) the interest rate, r.Shawn borrowed RM5 000 from a bank on 30th March 2020.The amount to be paid by Shawn was RM5 021.67 and the simple interest rate was 6% per annum,find the date of repayment using the Banker's Rule. 23rd April 2020 25th April 2020 26th April 2020 24th April 2020
- 1. En.Rahim borrowed a sum of loan amount RM2500 on 9 November 2018. Five months later he paid back RM2850 with charges r% simple interest. No use excel. Find a) The date of repayment (9/4/2019) b) The simple interest rate, r. (33.6%)Didzo took a loan of $14 600 on January 10, 2013 at a rate of 9.25%. He repaid the loan on June 4, 2013. What is the interest due on repayment date? Select one: a. $532.80 b. $529.10 c. $540.20 d. $536.50 e. $543.90Joyce took out a loan for $21,900 at 12% on March 18, 2017, which will be due on January 9, 2018. Using ordinary interest, how much will Joyce pay at maturity? Multiple Choice $2,168.10 $24,068.10 $24,038.40
- For items 16-20 Suppose that Zab borrowed P50,000 from a cooperative on January 8, 2020 and paid the entire sum including interest on April 3 of the same year, and that the interest rate is 1.5%. 16. Determine the exact time for the computation of exact interest. 17. Determine the approximate time for the computation of ordinary interest. 18. Find the amount of interest earned, if it is computed using the exact simple interest. 19. Find the amount of interest earned, if it is computed using the ordinary simple interest. 20. Find the amount of interest earned, if it is computed using the banker's rule.7. What lump-sum amount of interest will be paid on a 10,000 loan that was made on August 1, 2012, and repaid on November 1, 2021, with ordinary simple interest at 10% per year.1. On 23 January 2021, Sofie took a loan of RM7000 from a local bank that charged r% simple interest per annum. By using Banker's Rule, Sofie settled her loan on 18 May 2021 by paying RM7134.17. Using S=P(1+rt) No use excel. Find: a) the term of the loan. b) the interest rate, r.
- 3. Ziman received a 100-day promissory note for RM5,000 dated 10th September 2015.The simple interest charged was 6.5%. He later discounted the note on 30th October 2015 and received proceeds of RM5030.19.Find: a) the maturity date of the note b) the maturity value of the note c) the discount rate.A man borrows P5,430 from a loan association. In repaying this debt, he has to pay P425 at the end of every 3 months on the principal and a simple interest of 14.75% on the principal outstanding at that time. Determine the total amount he must pay after paying all his debt.simple interestSolve the following problems:1. Sassy borrowed P 10,500 on Nov. 6, 2020 to be repaid on April 11, 2021 at 15.3% interest in a year. How much will the interest be? Find the amount to be paid on the maturity date.2. Find the exact interest and the final amount due on P 12,350 at 11 % for 150 days, using ordinary interest.3. The interest on a loan of P 2,500 is P 165.00 . If the rate of interest is 6 %, when is the loan due?