2. Two months ago, Thomasian Engineer TE hadP5,000,000.00 in his UST Security Bank (USTSB)Account. Last month, TE also deposited in USTSB thesum of P300,000.00. Considering that USTSBEmployees are courteous and cheerful, he againdeposited today P400,000.00 to his account. Becauseof the educational needs of his chosen scholars, heplans to withdraw an amount, X, starting 5 monthsfrom today. He will also withdraw the same amountfor the succeeding 6 months or up to August 2023. Ifhis plan is to have a remaining outstanding balance ofP4,500,000.00 at the end of November 2023, what doyou think will be the value of X? Use i = 12%Compounded Monthly.

The amount deposited and the amount of compound interest accrued during the time period that depends…

Two months ago, Thomasian Engineer TEH P5,000,000.00 in his UST Security Bank (UST Account. Last month, TE also deposited in USTSB sum of P300,000.00. Considering that UST Employees are courteous and cheerful, he ag deposited today P400,000.00 to his account. Becau of the educational needs of his chosen scholars,

Two months ago, Thomasian Engineer TEH P5,000,000.00 in his UST Security Bank (UST Account. Last month, TE also deposited in USTSB sum of P300,000.00. Considering that UST Employees are courteous and cheerful, he ag deposited today P400,000.00 to his account. Becau of the educational needs of his chosen scholars,

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter5: Probability: An Introduction To Modeling Uncertainty

Section: Chapter Questions

Problem 6P: More than 40 million Americans are estimated to have at least one outstanding student loan to help...

See similar textbooks

Similar questions

Read the article above and answer the questions that follow this scenario. Hon. Anna is a minister of education whose salary’s is above N$800 000 per annum, and Mrs Geingos is a cleaner at NUST whose salary’s is N$ 50 000 per annum. The Namibian government have constituted the Social Security Commission (SSC) to cater for the social welfare of citizens. With this information answer the following questions. Work out the individual monthly contribution to SSC for the two ladies? Calculate the monthly contribution of a self-employed person, with N$ 42 000 per annum? How much would the three individuals get from SSC when they take 3-month maternity leave Discuss the economic impact that these three individuals are likely to face regarding their social benefit from SSC?
Formulate a system of equations for the situation below and solve.Michael Perez deposited a total of $2000 with two savings institutions. Bank A pays interest at the rate of 6%/year, whereas Bank B pays interest at the rate of 8%/year. If Michael earned a total of $128 in interest during a single year, how much did he deposit in each institution? Bank A $___ Bank B $___
Kindly solve it completely& correctly. Also, please provide your own solution. Thanks. 5. Ahmed bought a Machinery for RO46500. He made a down payment of RO15000and paid RO500 monthly for 65 months. i. Compute the total amount financed by Ahmed? ii. Compute the finance Charged to Ahmed? iii. Compute the deferred payment price paid by Ahmed?
Mr. Lee deposited a large amount of money in his first bank account. Annual withdrawals of 30,000 pesos starting EOY 1 were made for 7 years to pay for personal expenses. He stopped withdrawing after the 7th year when he was assigned to work abroad. After 3 years of working abroad without withdrawing or depositing from his bank account, he went back to the Philippines. He started withdrawing money again on the 10th year with an amount of 5,000 pesos, 7,000 pesos on the 11th year, 9,000 pesos on the 12th year, and the same trend goes up to the 15th year. After which, the following withdrawals were made: 16th year 2,500 pesos 17th year 3,000 pesos 18th year 3,500 pesos 19th year 4,000 pesos 20th year 4,500 pesos. The bank uses a nominal interest rate of 5% compounded annually.(a) What should be the minimum initial investment to accommodate all the transactions he made?(b) If 500,000 pesos is the initial investment, how much money is left after 25 years?
Banking. Arlo has an income of $55,000 that he is willing to spend over a year. If his bank account's interest rate is 5.15% and the cost associated for him to visit the bank is $6.00. What is the optimal number of bank trip for Arlo? O a. 731 O b. 68 O c. 15 O d. 236
During the year, Mina earned the following. • Rent received during trip in Macau for properties in Bulacan, P370,000. • Gain on sale of technical gadgets stored in Cavite, P120,000. The sale was perfected in Hong Kong. • Business income of a service business in Ireland, P600,000. • Interest income from a resident debtor collected whilst on business travel in Phnom Penh, P40,000. • Compensation income from a domestic employer, P420,000. • Consultancy fees for professional services rendered to an Filipino company, P100,000. • Increase in the fair value of domestic stocks, P80,000. If Mina is a resident alien, how much is her total income liable to income tax? A. 720,000 B. 930,000 C. 1,010,000 D. 1,650,000
During the year, Mina earned the following. • Rent received during trip in Macau for properties in Bulacan, P370,000. • Gain on sale of technical gadgets stored in Cavite, P120,000. The sale was perfected in Hong Kong. • Business income of a service business in Ireland, P600,000. • Interest income from a resident debtor collected whilst on business travel in Phnom Penh, P40,000. • Compensation income from a domestic employer, P420,000. • Consultancy fees for professional services rendered to an Filipino company, P100,000. • Increase in the fair value of domestic stocks, P80,000. If Mina is a resident citizen, how much is her total income liable to income tax? 720,000 800,000 1,650,00 1,730,000
2. Ms. Fatima sold to Ms. Ruqaiya OMR 60,000 worth of goods on the 15th of April 2022 by accepting a 150 days, 6% interest bearing note. Both Ms. Fatima & Ms. Ruqaiya need your help in understanding how and in what way the notes receivable and the payables should be treated. Provide them with the required help by showing how the transactions would be treated in the books of both parties in the following situations: a) When the notes are accepted. b) On the maturity date, the note is honored. c) Suppose Ms. Fathima prepared final accounts on the 25th of July 2022 d) Following the above situation, the bill is met on maturity. e) The note was dishonored on the maturity date by Ms. Ruqaiya.
On November 2022 the Carlos family, which consists of 10 family members agreed to establish a rural bank. Each of the family members agreed to contribute P1,000,000.00 each, as their capital for a total of P10,000,000.00 The said family members agreed not to include any other persons in their intended rural bank, so they decided to put up a close corporation and registered it to the Security and Exchange Commission (SEC) As a commissioner of the SEC, what will you required from the said incorporators in establishing their corporation?
Carlo runs a butcher shop, Carlo Angus MNL, in Manila. Jamie, a close friend who lives in Makati, wanted to put up another Angus store in Makati on May 1, 2022. They agreed to form CABLES Partnership where Jamie will invest cash so that she can have a 40% interest in the partnership. On April 30, 2022, Carlo Angus MNL had the following account balances: DEBIT CREDIT Cash 200,000 Accounts Receivable 150,000 Inventory 100,000 Accounts Payable 85,000 Carlo, Capital 365,000 Carlo and Jamie agreed on the following conditions: 1. An allowance for doubtful accounts worth P30,000 is to be established; and 2. Inventories must be valued at their current replacement cost of P95,000. How much is Jamie's investment in the partnership?
During the year, Mina earned the following. • Rent received during trip in Macau for properties in Bulacan, P370,000. • Gain on sale of technical gadgets stored in Cavite, P120,000. The sale was perfected in Hong Kong . • Business income of a service business in Ireland, P600,000. • Interest income from a resident debtor collected whilst on business travel in Phnom Penh, P40,000 . • Compensation income from a domestic employer, P420,000. • Consultancy fees for professional services rendered to an Filipino company, P100,000 . • Increase in the fair value of domestic stocks, P80,000. If Mina is a resident citizen, how much is her total income liable to income tax? If Mina is a resident alien, how much is her total income liable to income tax?
During the year, Mina earned the following. • Rent received during trip in Macau for properties in Bulacan, P370,000. • Gain on sale of technical gadgets stored in Cavite, P120,000. The sale was perfected in Hong Kong. • Business income of a service business in Ireland, P600,000. • Interest income from a resident debtor collected whilst on business travel in Phnom Penh, P40,000. • Compensation income from a domestic employer, P420,000. • Consultancy fees for professional services rendered to an Filipino company, P100,000. • Increase in the fair value of domestic stocks, P80,000. If Mina is a resident citizen, how much is her total income liable to income tax? A. 720,000 B. 800,000 C. 1,650,000 D. 1,730,000 If Mina is a resident alien, how much is her total income liable to income tax? A. 720,000 B. 930,000 C. 1,010,000 D. 1,650,000