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Keith borrowed money from a credit union for 5
years and was charged simple interest at an annual rate of 7
%
. The total interest that he paid was $
3150
. How much money did he borrow?
Jenny is planning to deposit ₱17,000.00 Quezon Metropolitan Bank is offering 7.5% compounded semi-annually
for 5 years while Quezon Premier Bank is offering 7% compounded monthly for 5 years. Which bank should she
deposit her money? Justify your answer by computing and comparing the maturity value for each bank.
14119 € was deposited on 4.4.2006 in a bank account. The interest rate was 3,5 % (p.a.) and the tax at source rate was 30 %. The bank added the accrued interest to the capital at the end of each year. Calculate the accumulated value of the investment on 4.4.2010 when the account was closed.
Using the circle graph that you have made, formulate at least two problem involving arcs and central angles, then solve
2. A company purchased machinery that cost 510,000. It is estimated that the machine will be operated for 100,000 hours over its useful life and have a residual value of 10,000.
Required:
A) what is the rate of depreciation per hour?
B) journalize the entry for annual depreciation if the machine had been operated for 22,000 hours?
Ask someone borrowing from a five-six ( Bumbay) money lender. How much w be charged if you want to loan P5,000.00, payable in one year? Determine the interest rate per period and the annual interest rate. Is it a good loan term? Whi or why not?
Submit on a long bond paper an essay containing your answer on the questions above. You should note that the computation must be included in the front pag of your paper. Then essay must consist of at least 5 sentences and a maximum of 10 sentences on why you must chose your answer. Justify your answer with the computations you had and your own personal reasons.
This year (10 years after you first took out the loan), you check your loan balance. Only part of your payments have been going to pay down the loan; the rest has been going towards interest. You see that you still have $126,323 left to pay on your loan. Your house is now valued at $200,000. How much of the original loan have you paid off?
at age 21 Julio begin saving $800 each year until age 35 in an ordinary annuity paying 5.3% annual interest compounded yearly and then leaves his money in the account until age 35. His friend max begins at age 41 saving $1600 per year in the same type of account until age 65. How much does each have in their account at age 65
3600 dollars is placed in an account with an annual interest rate of 9%. How much will be in the account after 25 years, to the nearest cent?
2. A company purchased machinery that cost 510,000. It is estimated that the machine will be operated for 100,000 hours over its useful life and have a residual value of 10,000.
Required:
A) what is the rate of depreciation per hour?
B) journalize the entry for annual depreciation if the machine had been operated for 22,000 hours?
