Jake paid 100,000 pesos as down payment for a farm. The remaining amount is to be settled by paying 16,000 pesos at the end of each month for 5 years. If interest is 6% compounded monthly, what is the total price of the farm?
Q: Sam took a $5000 loan to build a deck in the backyard. The loan requires payments at the end of each…
A: Converting rate of interest from 9% compounded monthly to quarterly Effective rate of interest =…
Q: You are to pay a bill in Meralco every month for 5 years. The accumulated amount of the payment you…
A: A deferred annuity is an agreement with an insurance broker to pay the owner a monthly income or a…
Q: A housewife bought a brand new washing machine costing P12,000 if paid in cash. However, she can…
A: Present value of annuity due can be used to calculate the periodic payment.
Q: Alexander Michael owes P25,000.00 due in 1 year and P75,000 due in 4 years. He agrees to pay…
A: Amount owed in one year = 25,000 Amount owed in four years = 75,000 Amount paid today = 60,000…
Q: A man paid a 10% down payment of 200,000 for a house and lot and agreed to pay the balance on…
A: Cost of house = 200,000 Down payment ratio = 10% Loan amount (PV) = Cost*(1-Down payment ratio)…
Q: Muaz will need $130,000 in 4 years to buy a piece of property. He plans to save money by making…
A:
Q: Aidan deposits $1000 at the end of each quarter in an account that pays 5.25% per year, compounded…
A: Solution: An equal amount invested every period is called annuity. So, future value of annuity = PMT…
Q: A house and lot is to be purchased by paying 35,000 pesos monthly for 25 years. The first payment is…
A: The question is related to Cash price of the house and lot if interest rate is 12% converted…
Q: Mr. Cama borrowed one million pesos from a bank to buy a house which he would pay in 15 years. How…
A: Calculation of monthly payment to be paid on the loan if compounded annually::: Cost of the…
Q: An engineer has received $10 000 from his employer for a patent disclosure. He has decided to invest…
A: Final value is computed in nominal terms as the compounded value of the initial investment. The…
Q: Juan borrows $25,000 at 7% compounded annually. If the loan is repaid in five equal annual payments,…
A: What are installments? Installment is the sum of money to be paid in a particular time frame to pay…
Q: Morris paid £500 a month for 20 years to pay off the mortgage on his Glasgow house. If his down…
A: given information interest paid monthly = £500 time period = 20 years = 240 months down payment =…
Q: Jungkook purchased a new car under these terms: 800,000 php downpayment and 17,500 php each month…
A: Cash price is the price that will include the downpayment plus the present value of the loan.
Q: Benjamin borrows $50,000 from a lending institution for building a house. The lending institution…
A: The question is based on the concept of amortization of mortgage loans. A mortgage loan is paid back…
Q: Sam Robinson borrowed $10,000 from a friend and promised to pay the loan in 10 equal annual…
A:
Q: 1. Mr. Teves bought a property on sale with a P200,000 down payment and twelve equal monthly…
A: Down payment = P 200,000 Monthly payment = P 10,000 Number of monthly payments = 12 First payment =…
Q: A property worth $21.5M is purchased with a $5M down payment. The balance is to be paid monthly in…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Carlos buys a house for 1,200,000 pesos. He makes a 20% down payment and the balance he takes a loan…
A: Solution: amount of loan = 1,200,000 * 80% = 960,000 Nos of monthly periods =15*12 = 180 Monthly…
Q: A house and lot are worth ₱4.3 million in cash. A buyer pays a 40% down payment and agrees to pay…
A: Total Worth = 4,300,000 Down Payment = 40% of Total Worth = 40%*4,300,000 = 1,720,000 Loan Amount =…
Q: An old man buys a piece of lot for 150,000 down payment and 12 deferred semi-annual payments of 8500…
A: A study that proves that the 1value of money today is higher than the future value of money is term…
Q: At the end of every week, for 2 years, Carlo puts $35 into an account that earns 5.2% per year,…
A: If an individual is regularly depositing certain account at the beginning of the period it would be…
Q: Rudy Anne wants to buy new farm equipment costing P350,000 making a down payment of P50,000. The…
A: In the context of the given question, we are required to compute the monthly amount of payments.…
Q: Mr. Park plans to loan 500,000 from a bank to replace his old equipment. The bank approved him the…
A: Here, Loan Amount is 500,000 Interest Rate (r) is 15% Compounding Period (m) is Monthly i.e 12 Time…
Q: Fatma purchased land for OMR 10,000 If you expect a 12% annual rate of return on your investment…
A: Using excel FV function
Q: how much interest will mico pay
A: PV = A[ (1-(1/(1+r)^n)/ r] Where PV = present value, A = Annuity amount. r = interest rate. n =…
Q: The buyer of a lot pays P10,000 every month for 10 years. If money is 8% compounded annually, how…
A: Convert 8% compounded annually to its equivalent interest rate for monthly interval. Here, 'R'…
Q: Peter is saving $5,000 monthly deposit into an account that pays 7% compounded monthly. What would…
A: Monthly deposit (P) = $ 5000 Interest rate = 7% Monthly interest rate (r) = 7%/12 =…
Q: Mr. Barela’s monthly amortization is ₱3,500.00, payable at the end of each month. His house and lot…
A: Given, Amount Payable (each month) = ₱3,500.00 No. of years (fully paid) = 20 years Interest Rate…
Q: Morris paid £500 a month for 20 years to pay off the mortgage on his Glasgow house. If his down…
A: Given:
Q: A house and lot is for sale at a monthly payment of P30,000 for 25 years at an interest rate of 3%…
A: Monthly payment (A) = P 30000 Duration (n) = 25 years = 300 months Interest rate (r) = 3% per annum…
Q: Jackson has a loan that requires a $16,600 lump sum payment at the end of four years. The interest…
A: The amount borrowed today can be computed using the present value function.
Q: You own $35000 from the bank for 3 years at 8.50% annual interest, and you will make equal monthly…
A: Solved using Financial Calculator PV = 35,000 N = 3years * 12 = 36 I/Y = 8.5/12 = 0.708333 CPT PMT…
Q: Helen is buying a $12,375 car with a $3000 down payment, followed by 36 monthly payments of $325…
A: Given data; Price of car = $ 12,375 down payment = $ 3000 number of payments = 36 monthly payment =…
Q: John contributes $5,000 per month into an account. How much will he have in the account after 25…
A: In the given question we require to calculate the future value of account after 25 years is john…
Q: John paid $25,000 down on a new house and will pay $1000 per month for 30 years. If interest is 8%…
A: Selling Price of the House = Down Payment + Present Value of monthly payments Down Payment = $25000
Q: Ms.Sue was selling a house for a cash price of 5 million pesos but agreed to have it paid on monthly…
A: House cash price (CP) = $ 5,000,000 Period = 5 Years Total number of monthly payments (m) = 5*12 =…
Q: A woman paid $92,000 down for a house and agreed to pay 18 quarterly payments of $4,200 each. If…
A: Given:
Q: Hank made payments of $205 per month at the end of each month for 30 years to purchase a piece of…
A: Annuity means a series of finite number of payments which are the same in size and made in equal…
Q: Ms. Callie paid Php200,000 as down payment for a farm. The remaining amount is to be settled by…
A: "Since you have asked multiple questions, we will solve the first question for you". If you want any…
Q: Joe is settling his debt by paying P50,000 at the beginning of every 6 months for 3 years. If the…
A: Semi annual payment = P 50,000 Period = 3 Years Number of semi annual payments = 3*2 = 6 Annual…
Q: The buyer of a lot pays $50,000.00 cash and $10,000.00 every month for 10 years. If money is 8%…
A: Given:
Q: Hank made payments of $106 per month at the end of each month for 30 years to purchase a piece of…
A: Here, Monthly payment = $106 per month Total number of years = 30 years Selling price of property =…
Q: A house and lot are to be purchased by paying P15,500.00 monthly payable in 25 years. The first…
A: An interest rate is defined as the proportion of a loan sum paid to the borrower by the lender as…
Q: Mr smith wants to borrow P100,000 from a bank to rebuild his shop from damages caused by an…
A: First we need to calculate size of quarterly payment of loan amount. PMT =PV*i1-1(1+i)n where PV…
Q: A person buys a house for which he agrees to pay Rs. 5,00,000 now and Rs. 5,000 at the end of every…
A: Money’s value declines with the time due to inflation and other factors. Discounting considers the…
Q: Skylar bought a $270,000.00 house, paying 10% down, and financing the rest at 3% interest for 15…
A: A mortgage is a form of secured loan that is meant to be used to purchase or maintain real estate.…
Q: Ms.Sue was selling a house for a cash price of 5 million pesos but agreed to have it paid on monthly…
A: Price (PV) = P 5,000,000 Interest rate = 4% Monthly interest rate (r) = 4%/12 = 0.333333333333333%…
Q: In 6 years, Mrs. Fong must pay off a note with a face value of $14,000, and interest of 10% per…
A: Solution: 9 Face value of notes $14,000 Interest rate semiannually (10% / 2) 5% Period (6…
Q: Nasser purchased a photocopier machine for 12,500 RO with a down payment of 5000 RO. His rate of…
A: Using excel PMT function
Q: In 5 years a couple would like to have $25,000 for a down payment on a house. What fixed amount…
A: Given: Accumulated amount (A)=$25000compound interest rate (r)=9%No. of times compounded in a year…
Jake paid 100,000 pesos as down payment for a farm. The remaining amount is to be settled by paying 16,000 pesos at the end of each month for 5 years. If interest is 6% compounded monthly, what is the total price of the farm?
Step by step
Solved in 3 steps
- Mrs. Lim's purchase contract for a house and lot specifies that she will pay $500,000 cash and $45,000 at the end of each month for 10 years at the interest rate of 17% converted monthly. What is the cash value of the house and lot? Round off answer to the nearest peso.To pay for a farm, Berti has to make equal payments of P135,900.00 at the beginning of each six months for eight years. Find the cash price for the farm, if money is worth 11% compounded semi-annually. Solve the problem and show the solution.A person buys a house for which he agrees to pay Rs. 5,00,000 now and Rs. 5,000 at the end of every month for 6 years. If the money is worth 8% compounded quarterly, what is the cash pric of the house?
- Mr. Torres paid PhP200,000 as downpayment for a farm. The remaining amount is to be settled by paying PhP16,200 at the end of each month for 5 years. If interest is 5% compunded semi-annually, what is the cash price of his farm?To help finance the purchase of a house and lot, a couple borrows P350,000. The loan is to be repaid in equal monthly installment over a period of 8 years. If the interest rate is converted monthly, how much is the monthly payment at 15% interest, m=12?Carlo paid P 13,500 after two years to fully pay his loan that costs P 10,000. What is the interest rate of the loan if the money is to be compounded quarterly?
- Mailee will pay out $6,000 at the end of year two and $8,000 at the end of year three. Then Mailee will receive $10,000 at the end of year four. With an interest rate of 10%, what is the net value of the payments versus receipts in today's dollars?Mr. Koys applied for a farm input loan amounting to 24,000.00 with a fixed rate of 5.5% per annum. How much will be his monthly amortization?In buying a farm worth P 300,000, the purchaser agrees to pay a down payment of P 80,000 and a second payment of P 60,000 at the end of 2 years. The balance is to be paid by 8 equal semi annual payments at 12% compounded semi - annually, starting at the end of 2 1/2 years from now. How much is each semi annual payments.
- Mr. Ramos buys a house and lot that cost P450,000. He pays P75,000 as down payment and promises to pay the balance by monthly installment for 25 years. If money is worth 12% compounded monthly, a. How much is the monthly amortization? b. What is the outstanding balance at the end of 15 years? c. What part of Mr. Ramos payment goes to the interest? d. What part of the 181st payment goes to repayment of the principal? e. Find the total interest paid on the transaction? Please do on excelPeter was receiving rental payments of $2,000 at the end of each month from his tenants of his commercial property .What would be the value of his property in the market if he wants to sell it, assuming money earns 3.0% compounded semi-annually?A house and lot are to be purchased by paying P15,500.00 monthly payable in 25 years. The first payment is due in 1 year. How much is the cash price of the house and lot if the interest rate is 12% converted monthly?