PLEASE SHOW YOUR STEP-BY-STEP SOLUTION. Liam paid ₱68,000 to a money lending company after one and a half years to fulfill her loan that costs ₱60,000. What is the interest rate compounded quarterly that is charged to the loan?
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A:
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A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…
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- Reggie availed of a deferred payment scheme from a bank that gave her an option to pay ₱5,500 monthly for 2 years. The first payment is due after 3 months. How much is the present value of the loan if the interest rate is 12% converted monthly?Direction : Read , analyze , and solve the following worded problem involving annuities . Show your complete solutions. I already provided the answer I just need the SOLUTION. 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 ? Answer: Harry borrowed 100 000.00 PhpMr. Sebastian avails the loan offered by his company with a minimal interest of 1.5% every 6 months. He borrows ₱150,000 and agrees to discharge his loan by paying a series of 10 equal semi-annual payments. The first payment is due at the end of 2 years. What amount should he pay every 6 months? Also draw the cashflow diagram and solve using the formula of annuities
- SHOW YOUR STEP-BY-STEP SOLUTION. a. Kim pays ₱2,000 every two months to settle his obligation for two years at 8% compounded bimonthly. Find the present value of the loan. b. Ian bought a second-hand car worth ₱320,000. She gave a ₱50,000 down payment and agreed to amortize the balance by equal payments at the end of each month for 5 years. If money is worth 8% compounded monthly, how much is the monthly payment?To start a new business, Alysha intends to borrow $25.000 from a local bank. If the bank asks her to repay the loan in 5 equal annual instalments of $6,935.24, determine the bank's effective annual interest rate on the ipan transaction. With annual compounding, what nominal rate would the bank quote for this loan?1. Jeremiah has 3 years to repay a $55000 personal loan at 6.55% per year, compounded monthly. a. Calculate the monthly payment and show all variables used for TVM Solver. b. Calculate the total amount Jeremiah ends up paying. c. Calculate the amount of interest Jeremiah will pay over the life of the loan.
- Mr. Sebastian avails the loan offered by his company with a minimal interest of 1.5% every 6 months. He borrows ₱150,000 and agrees to discharge his loan by paying a series of 10 equal semi-annual payments. The first payment is due at the end of 2 years. What amount should he pay every 6 months? Also draw the cashflow diagramYou loaned your brother a substantial amount of money and are working out a payment system. You’ve mutually agreed to a repayment schedule of $400 per month. You will charge 1 percent per month interest on the overdue amount. If the current balance is $20,000, how long will it take for the account to be paid off?Maria wants to have ₱750,000.00 at the end of 4 years for hergraduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly.a.) What is the monthly rate?b.) How many total deposits?
- SHOW YOUR STEP-BY-STEP SOLUTIONS. a. A consumer loan worth ₱75,000 is to be repaid in two years at 6% compounded monthly. What is the monthly payment? b. Anne paid ₱13,500 after two years to fully pay his loan that costs ₱10,000. What is the interest rate of the loan if the money is to be compounded quarterly?Please help me answer the following time value of money question. Edison borrowed $10,000 from the Niederriter Loan Company. He has to pay off the loan in 36 monthly payments of $500. What interest rate is he being charged?Direction: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for the scenario below using a simple interest assumption and compound interest assumption. Your brother borrowed from your neighbor ₱7,000 to buy a new mobile phone. The neighbor charged 11% for the borrowed amount payable after three years.