A loan association requires that loans be repaid by uniform monthly payments which includes monthly interest calculated on the basis of nominal 5.4% per annum. If Php 5000 is borrowed to be repaid in 10 years, what must be the monthly payment? a. Php 79.12 b. Php 65.31 c. Php 86.55 d. Php 54.02
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A loan association requires that loans be repaid by uniform monthly payments which includes monthly interest calculated on the basis of nominal 5.4% per annum. If Php 5000 is borrowed to be repaid in 10 years, what must be the monthly payment?
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- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383A Man borrows Php 2000 for 6 years at 8 %, to be repaid in a lump sum at the end of 6 years. At the end of 6 years, the Man renews the loan for the amount due plus Php 2000 more for 2 years at 8 %. What is most nearly the amount of the loan renewal? a. Php 5 506.54 b. Php 4 371.08 c. Php 3 173. 70 d. Php 2 871.61Consider a loan of Php 40,000, payable for 24 months at an interest rate of 8% compounded monthly. The periodic payment is computed at P1,809.09. What is the interest for the first period? O Php266.67 O Php226.14 O Php133.33 O Php150.76
- A bank customer borrows X at an annual effective rate of 12.5% and makes level payments at the end of each year for n years. (i) The interest portion of the final payment is 153.86. (ii) The total principal repaid as of time (n − 1) is 6009.12. (iii) The principal repaid in the first payment is Y. Calculate Y. OA. 500 OB. 470 O C. 480 O D. 490 OE. 510A loan of ₱2,000 is made for a period of 13 months, from January 1 to January 31 the following year, at a simple interest rate of 20%. What future amount is due at the end of the loan period? Ans: ₱2,433.33Suppose a customer has to pay a totalamount of PhP 20,945 as a payment of apersonal loan at the end of 3 years and 6months at 4.68% compounded quarterly.How much is the borrowed amount?
- A LOAN OF P80,000 IS MADE FOR A PERIOD OF 18 MONTHS AT A SIMPLE INTEREST RATE OF 10%. WHAT DUE AT THE END OF THE LOAN PERIOD? O a. P92,100.00 O b. P93,000.00 O c. P92,020.00 O d. P92,000.00A bank charges an interest rate of interest is 6% compounded annually. A customer takes a loan of $159,348.29, which is to be paid back by annual payments of $18,000 at the end of each year for 13 years. What is the outstanding balance of the loan after the 2nd year? a. $141,963.74 b. $20,224.80 c. $37,080.00 d. $123,348.29 e. $33,001.07An individual borrows $4,500 from the bank to be repaid in three equal annual installments, with the first installment to be paid one year after the loan amount is received. If interest on the loan is charged at a rate of 9 per cent per annum compounded annually, to the nearest dollar the annual installment is a. $1,259 b. $1,373 c. $1,778 d. $1,631
- ₱50,000.00 loan is payable in 3 years. To repay the loan, the debtor must pay an amount of every 6 months with an interest rate of 6% compounded semi-annually. How much should he pay every 6 months? a. ₱7,729.88 b. ₱9,229.88 c. ₱270,0859.57 d. ₱323,420.49A loan is to be repaid by $1500 in one year and $2250 in four years. The borrower has asked to repay $1000 in 1.5 years and a final payment in three years. If money can earn 6% compounded quarterly, what is the size of the final payment? Select one: O a. 2735.18 O b. 2705.50 O C. 2725.50 O d. 2755.85 O e. 2715.50A loan is to be amortized by equal payments of P500.00 each at the end of every six months for ten years. Interest is based on 7% compounded semiannually. What is the outstanding debt after eight years? Select one: a. P1,657.88 O b. No answer c. P2,034.29 d. P1,836.54 e. P1,976.87