How much is the monthly amortization on an automobile loan of P900,000 to be amortized over...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
How much is the monthly amortization on an automobile loan of P900,000 to be amortized over a 5- year period at a rate 9.5% compounded monthly? 2. Shirl started to deposit P18,000 semi-annually in a fund that pays 5% compounded semi-annually. How much will be in the fund after 10 years? 3. Lyka wants to buy a lot which costs 1 million pesos. She plans to give a down payment of 20% of the cost, and the rest will be paid by financing at annual interest rate of 12% for 10 years in equal monthly installments? What will be the monthly payment? 4. Ken is paying P2,500 every 3 months for the amount he borrowed at an interest rate of 8% compounded quarterly. How much did he borrow if he agreed that the loan will be paid in 2 years and 6 months? 5. A store advertises a motorcycle for P3,000 down payment and P3,000 per month for 15 months. If the interest is 15% compounded monthly, what is the actual value of the motorcycle? How much is the monthly amortization on an automobile loan of P900,000 to be amortized over a 5- year period at a rate 9.5% compounded monthly? 2. Shirl started to deposit P18,000 semi-annually in a fund that pays 5% compounded semi-annually. How much will be in the fund after 10 years? 3. Lyka wants to buy a lot which costs 1 million pesos. She plans to give a down payment of 20% of the cost, and the rest will be paid by financing at annual interest rate of 12% for 10 years in equal monthly installments? What will be the monthly payment? 4. Ken is paying P2,500 every 3 months for the amount he borrowed at an interest rate of 8% compounded quarterly. How much did he borrow if he agreed that the loan will be paid in 2 years and 6 months? 5. A store advertises a motorcycle for P3,000 down payment and P3,000 per month for 15 months. If the interest is 15% compounded monthly, what is the actual value of the motorcycle?
Expert Answer:
Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
Posted Date:
Students also viewed these accounting questions
-
Ques 1: What is the major complaint by firms concerning the Sarbanes-Oxley act of 2012? A. the legislative maximum allowable compensation for a CEO. B. the legal requirement to disclose project...
-
You deposit $2000 in an account earning 6% interest compounded continuously. How much will you have in the account in 15 years? Round your answer to the nearest cent. 2. Suppose you want to have...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
In order to have $391,185 in 26 years, how much needs to be deposited each month into a bank account whose annual rate is 1.8% with monthly compounding?
-
Two 8 wedges of negligible mass are used to move and position a 240-kg block. Knowing that the coefficient of static friction is 0.40 at all surfaces of contact, determine the magnitude of the force...
-
The auditor is concerned that fictitious sales have been recorded. The best audit procedure to identify the existence of the fictitious sales would be to a. Select a sample of recorded invoices and...
-
Which interest rate on a bond determines the amount of the semiannual interest payment? a. Market rate b. Effective rate c. Stated rate d. Semiannual rate
-
The franchise arrangement between McDonalds and its franchisees is summarized in the following note from McDonalds 2007 annual report. Individual franchise arrangements generally include a lease and...
-
The IKEA Group, a Swedish company founded in 1943 with its headquarters in Denmark, is a multinational operator of a chain of stores for home furnishing and housewares. It is the world's largest...
-
Honda Motor Corporation of Japan is a leading international manufacturer of automobiles, motorcycles, all-terrain vehicles, and personal watercraft. As a Japanese company, it follows Japanese GAAP...
-
ABC is all equity financed, has 1 million shares outstanding and a current stock price of $10. Although management believes the stock is fairly valued, they came across some obscure research on share...
-
Luke's turkey chili recipe calls for 2.5 pounds of ground turkey for every 10 servings. How many servings can he make if he has 6 pounds of ground turkey? Complete the explanation. When entering the...
-
Develop a Work-Life Balance strategy for a Food & Beverage outlet, who is planning to attract younger workers to join his restaurant?
-
Magnolia, Inc., manufactures bedding sets. The budgeted production is for 28,400 comforters this year. Each comforter requires 7 yards of material. The estimated January 1 beginning inventory is...
-
Below is the simplified balance sheet of Gorgonzolan commercial banks at some point in time. Amount 200,000 Amount 600,000 400,000 Assets Currency (= reserves) Loans Assume that the Gorgonzolan...
-
Crystal Corporation earned net income of $ 9 0 0 , 0 0 0 in 2 0 2 3 . It has a complex capital structure as follows: 1 2 , 0 0 0 shares outstanding of 8 % , $ 1 0 0 preferred stock, and 1 7 0 , 0...
-
Now you are trying to learn a 5-gram language model p5 by using a different dataset D, whose vocabulary size |W|=10000. Q2.1 5 Points How many parameteres should you learn for training p5?
-
For a nonzero constant a, find the intercepts of the graph of (x 2 + y 2 ) 2 = a 2 (x 2 - y 2 ). Then test for symmetry with respect to the x-axis, the y-axis, and the origin.
-
Daniel Perkins is the sole shareholder of Perkins Inc., which is currently under bankruptcy court protection. As a debtor in possession, he has negotiated the following revised loan agreement with...
-
On December 31, 2011, Xu Ltd., which uses private enterprise GAAP, entered into an eight-year lease agreement for a conveyor machine. Annual lease payments are $28,500 at the beginning of each lease...
-
Rao Corporation had a net income of $50,000 for the year ended December 31, 2011, and a weighted average number of common shares outstanding of 10,000. The following information is provided regarding...
-
True or False. The element stiffness matrices are always singular.
-
Derive the stiffness matrix of the bar element in longitudinal vibration whose cross-sectional area varies as \(A(x)=A_{0} e^{-(x / l)}\), where \(A_{0}\) is the area at the root (see Fig. 12.14)....
-
Fill in the Blank. In the finite element method, the elements are assumed to be interconnected at certain points known as ____________ .
Study smarter with the SolutionInn App