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Harry borrowed an amount of money from Donna . He agrees to pay the principal plus the interest by paying 38 937.76 Php each year for three years . How much money did he borrow if the interest is 8% compounded quarterly ?
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- Billy borrowed an amount of money from Kat. He agrees to pay the principal plus interest by paying ₱38,973.76 each year for 3 years. How much money did he borrow if interest is 8% compounded quarterly?Erica borrowed money from Charles an amount of 58,744 and promise to pay at the end of second and fourth year at a simple interest rate of 15.198%. The second payment is 30% more than the first one. How much is the first payment? How much is the second payment?Jason takes out a loan at 10% compounded annually for 7 years. At the end of this period, he pays off the loan at a value of $23,384.61. What amount did he borrow?
- Camille Noah is investing $5,000 in an account that pays an annually compounded rate of 6.75 percent for three years. What is the interest on interest if interest is compounded?Freddy agreed to make quarterly payments of $781.25 for 4 years on a loan of $10,000. What simple interest rate is he paying?José borrowed 8100 at 5 1/2% for  three years compounded, semi am annually. What is the future value of the loan and how much interest will he pay on the loan?
- Rachael invests $8000 for 7 years and 8 months. The account earns 12% semiannually. A) What is n for the compound interest part? B) What is the future value after the compound interest part? C) Simple interest is used for how many months? D) Assuming simple interest for the partial period, how much money does Rachael have in the account at the end of 7 years and 8 months?Mr. Joe pays $2068 a month for the loan he took from a bank. If the total payment period is 3 years and the interest rate is 29% per year compounded monthly. Determine the amount of loan Mr Joe took?Jake borrowed P40,000 from Mike. He promised to pay the principal amount plus the interest at the end of 2 years. If Mike charged him 3 and 3/4 % compounded monthly , how much should Jake pay to Mike?
- Joshua borrowed $800 for one year and paid $40 in interest. The bank charged him a service charge of $7. If Joshua paid the $800 in 12 equal monthly payments, what is the APR?Lance borrowed an amount of money from a lender. He agrees to pay the principal plus interest by paying P39,973.76 each year for 3 years. How much money did Lance borrow if the interest is 8% compounded quarterly? a. P90,000 b. P100,000 c. P120,000 d. P130,000Benito borrowed $800 two years ago. The interest rate on the loan was 5% compounded monthly for the first 8 months and 9% compounded quarterly for the rest of the time. How much does he owe now?