A man loan P 2,000 from the bank. How long would it take in years for the amount of the loan and interest to equal P 3,280 if it was made at 8% simple interest? O 8 years O 6.25 years O 6.18 years O 10 years
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- You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.A man borrowed P12,000 and agreed to repay it with P4,650.70 interest. If the interest is 6% compounded quarterly, what is the term of the loan? O 15.92 years O 22 years O 5.5 years O 6.37 yearsSuppose that you borrow$ 12000 at interest rate of 5% per year. If you must be repaid the loan in equal end of year payments over the next 4 years, how much must you repay at the end of each year? O a. $3672 Ob. $3384 Oc. $2672 O d. $2384
- What will a deposit of $4500 at 7.8% compounded semiannually be worth if left in the bank for six years? Use the TMV calculator to fill in the table. N I% 7.8 PV -$4500 PMT 0 FV P/Y C/Y 2Q7. The annual payment of a lorry is 40,000 Euro find out the loan amount which is granted for 4 years and the interest rate is 8%, prepare an amortization table for this loan (5 marks)If you deposit RM25,000 in an account earning an interest of 15% per annum, how much would you have in the account after 10 years? А. RM 92,890 В. RM 125,789 C. RM 168,980 D. RM 101,140
- If you borrow $5,400 at a simple interest of 5% per year, how much will be repayed after 6 years? a. $7,020 b. $5,670 c. $7,237 d. $1,620 e. $1,837 Clear my choiceHow much interest is deducted in advance from a loan of P18,000.00 for one year and 6 months if the discount rate is 9%. How much is the proceeds after deducting the interest?Suppose you borrowed $20,000 at a rate of 9.2% and must repay it in 5 equal installments at the end of each of the next 5 years. How much would you still owe at the end of the first year, after you have made the first payment? O a. $16,000.00 O b. $17,106.89 Oc. $14,831.44 O d. $16,671.44 Oe. $15,266.89
- 2. Deposit the principal amount of P10,000 into a savings account that pays interest at the rate of 5%. What is the amount in the account after 1 year if the account is: a. compounded annually b. compounded semi-annually c. compounded quarterly d. compounded monthly e. Which is advantageous to the investor?If you deposit RM15,00O in an account earning 18% with quartely compounding how much would you have in the account after 6 years? A. RM43,140.21 B. RM32,768.89 C RM41,657.90 D RM11,265.909. A man borrowed P 300,000 from a lending institution which will be paid after 10 years at an interest rate of 12% compounded annually. If money is worth 8% per annum how much should be deposit to a bank monthly in order to discharge his debt 10 years hence? A. 2,798.52 B. 4,672.31 C. 3,952.50 D. 5,093.06