Mr. Cruz agreed to settle a debt by making 12 quarterly payments of P 450 each. If he failed to make the first 3 payments, how much is he going to pay for the next payment due that a) will bring up-to-date with his payments; b) will cancel his debt, money worth 8% compounded quarterly.
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- Mbalenhle agreed to settle a debt by making 12 quarterly payments of R300 each. If she failed to make the first 3 payments, what payment when the next is due will cancel her debt, if money is worth 8% p.a. compounded quarterly?Mr. Rabutan borrowed P150,000. He agrees to pay the principal plus interest by paying an equal amount of money for 2 years. What should be his monthly payment if interest is 5% compounded annually? a. P8,895.45 b. P6,573.25 c. P5,786.25 d. P4,458.523. Mr. Ramirez borrowed P150,000 to be amortized in 2 years by monthly equal payments. If Mr. Ramirez missed the payments during the first year, what amount must he pay in the following month to liquidate alIl his indebtedness if money worth 12%?
- Juan bought a cellphone with a cash value of P17500 on the installment plan under the following terms: P4000 cash upon delivery and the balance payable in 12 equal monthly payments, each payment combining an amortization installment and 6% monthly interest on the previously unpaid balance. (a) solve for each monthly payment. (b) at the end of 8 months, he was forced to sell the cellphone in order to pay a P7,000 debt. At what price must he sell his cellphone so that he can completely pay the cellphone and also pay his P7,000 debt.?6) Bozo borrowed $10,000 from Ernie due in 4 years at 6% compounded monthly. Immediately after the debt is contracted, Ernie sells the note to Max for an amount based on 5% compounded monthly. How much does Ernie receive?Jose owes Pedro the sum of P 10,000 due on Dec.31,1978, and P 6,000. due Dec.31,1980. However, with consent of Pedro, Jose is allowed to discharge the debt by paying P 9,000 on Dec.31,1979, and a final payment, including the accrued interest on Dec.31,1981. If interest is 8% determine the amount of the final payment compounded annually. Show the problem completely and clearly.
- Louie borrowed $2,000 from Phil. Under this agreement, Louie would repay with $1,300 at t = 1 and $1,700 at t = 4 where time is given in years. Louie successfully made the payment in full at t = 1, but he faced some financial difficulty and was only able to pay 60% of what he owed at the time of the second payment. a. What was the annual interest rate (as a percent) for the original loan? b. What is Phil's annual yield (as a percent) for this four-year period?Jake borrowed P40,000 from Mike. He promised to pay the principal amount plus the interest at the end of 2 years. If Mike charged him 3 and 3/4 % compounded monthly , how much should Jake pay to Mike?1. Cameron designates 10% of his monthly earnings as charitable contributions. After deducting this amount, he deposits 5% of the remaining amount into a money market account earning 2%. If Cameron's monthly earnings are $4,800 what amount interest will he earn on his deposit each month? 2. Find the maturity value for a loan on $4,225 at 8% made on March 5 and due on May 5 of the same year. Assume a 365-day year. 3. Republic Bank advertises their interest rates at 7 % %. You decide to apply for a loan in the amount of $9,000 for 90 days. The bank grants your loan and the loan officer tells you that there is a document preparation fee of $150 that needs to be paid at the time you sign the documents for the loan. Find the APR. Assume a 360-day year. 4. You took out a loan of $5,000 on May 2 and went back on June 15 to make a payment of $1,200. The loan was at 4% for 1 year. What was your remaining balance after making that payment?
- 1. Citari took a personal loan of RM10,000 and paid equal monthly payments for five years at an interest rate of 6% compounded monthly. a) Find the monthly payment. (RM193.33) b) If Citari fails to pay the first five monthly payments, find the amount she has to pay on the sixth payment in order to settle the outstanding arrears. (RM1174.58)1. Jill owes Abe Php2, 500 due in 2 years and Php4, 000 due in 5 years. To settle these financial obligations, AC agrees to pay Php1, 000 after a year and another payment on the fourth year. How much is the payment on the fourth year if money is worth 16% compounded quarterly? 2. Mr. Ferolin has two financial obligations to Mr. Ang One obligation is worth Php20, 000 due in 2 years and another Php60,000 which is due in 5 years. What single payment at the end of the fourth year will settle all his debts to Mr. Aqustin? Assume that money is worth 10% compounded semi-annually? 3. If your mom invests SGD$2,000 for your college tuition at an annual interest rate of 13% compounded continuously, calculate the final amount you will have in the account after 20 years.Kim owes Php40,000, due with accumulated interest at the rate (06, m = 4) at the end of 5 years and 3 months. What is the value of this obligation two years before it is due to a man to whom money is worth (.06, m= 1) Miles owes the following obligations: (a) Php50,000 due after 3 years, and (b) Php 75,000 due after 4 years with accumulated interest at (0.06, m = 2) He paid Php90,000 at the end of 2 years. What single additional payment should he make at the end of 4 years to cancel his obligations if money is worth (06, m = 4) to his creditor? Julia owes Luis Php20,000 due after 3 years and Php 30,000 due after 3 years and 6 months. She intends to pay with equal amounts at the end of 2 years and 4 years. What equal payment will discharge these debts if money is worth (0.06, m = 2)?