2. James borrows, Php 700,000 and promises to pay the principal and interest at 15% compounded monthly. Seven years later, how much must he repay? 2
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- 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 diagram3. Joseph borrows ₱50,000.00 and promise to pay the principal and interest at 12% compounded monthly. How much must he repay after 6 years?Vincent borrows Php 4,800 with interest at 18% compounded quarterly. How much should he pay to the creditor after 4 years to pay off his debt?
- d) Sean rents out his three bedrooms flat for R5 000 per month, payable in advance. All his rental proceeds are deposited into a bank account that earns interest at a rate of 11% per annum compounded monthly. If no withdrawals are made from the bank account, what will be Sean's balance on this bank account 8 years from now2.10.1. Melissa takes a loan of R950 000 to buy a house. The interest is 14,25% p.a. compounded monthly. His first instalment will commence one month after taking out the loan. (a) Calculate the monthly repayments over a period of 20 years. (b) Determine the balance on the loan after the 100th instalment. If Melissa failed to pay the 101", 102nd, 103rd and 104th instalments, the new instalment that will settle the loan in the same time period. ne value of (c)1. Buchoy deposits Php10 000 in a bank that pays 4% compound interest annually. How much money will he have after 12 years without withdrawal?
- 1. Mathew takes a loan that charged interest at 3.75% compounded monthly. He repays the loan in 9 years with monthly payment of RM357.25. Immediately after paying the 89th payment, he decided to settle the balance of the loan. No use excel. Find the balance to be paid.1. Warren borrowed RM4,040 from John at an interest rate of 4.4% compounded weekly. The loan is to be repaid by four payments. The first payment, RM1,010, is due two years after the date of the loan. The second and third payments are due three and five years respectively, after the initial loan. The last payment is due six years after the first payment where he paid RM404. Calculate the amounts of the second and third payments if the second payment is to be thrice the size of the third payment.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 ?
- Charles has just taken out a loan at an annual rate of 12%. Based on the conditions of the loan, he must make payments of $1,200 per year for 15 years in order to repay the full amount of the loan. How much money did Charles borrow? O $8.173.04 O $44,735.66 O $18,000.00 O $6,504.746. A father borrows P10,000 for the enrolment of his son in college last August. He agrees to pay the principal and interest by paying a certain sum every month for 4 months. Find his monthly payment if he pays 9% interest compounded monthly.Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly. To fulfill his obligation to repay the loan, Pedro agreed to start paying the six (6) equal monthly payments starting next month. a. What will be the amount of his monthly amortization? b. Construct an amortization schedule. Use a table similar to that found in our textbook. c. What will be the outstanding balance of his loan at the end of 4 months from today? d. If Pedro failed to pay the 2nd and 3rd monthly amortization, how much shall be the required single payment on the fifth month in order to fully pay his outstanding obligation? e. Supposed that he will still not be able pay the single total payment on the Fifth month as stated in question d. above, and assuming further that both parties agree that the outstanding obligations shall instead be paid in 7 equal monthly installments, at 15% compounded monthly, starting on the 9th month, what will the value of such monthly installment be?