Question: Use simple interest and compound interest separately for each question 1. The bank issued a loan of UAH 1 million. for 9 months at a

（Use simple interest and compound interest separately for each question）

1. The bank issued a loan of UAH 1 million. for 9 months at a rate of 20 % per annum. Determine the amount that is repaid and the amount of interest on the loan.

2. Credit in the amount of 500 thousand UAH. It was taken on September 12, 2004 with a maturity of 10.06.2004 at the rate of 20% per annum. Determine the amount of interest on the loan.

3. Under the terms of the loan agreement, the rate of simple interest in the first month of the loan was 12%, and in each subsequent month increased by 3 points. Determine the amount of interest on the loan amount of UAH 800 thousand. taken for 9 months.

4. The bank issued a loan of UAH 10 million. For 3 years at a difficult annual rate of 60% per annum with a repayment of a one -time payment. Determine the amount that is repaid and the amount of interest on the loan.

5. The Bank issues long -term loans at a complex rate of 40% per annum. Determine the amount of interest for a loan of UAH 2 million, which is repaid in a one -time payment in 3.5 years.

6. The borrower intends to take a loan of 400 thousand UAH. With the expense of its amount 1 million UAH. The interest rate on loans is 19%. Determine how many days you can take a loan (estimated number of days per year 365).

Step by Step Solution

★★★★★

3.35 Rating (170 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

1 Simple Interest The interest on the loan is calculated using the formula I P r t Where P principal amount UAH 1 million r rate of interest per annum 20 t time in years 912 years 075 years I 1000000 ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Use simple interest and compound interest separately for each question 7. The borrower is about to take a loan in the amount of UAH 1.5 million. With a return of UAH 2 million in half a year....

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...

Use simple interest and compound interest separately for each question 1. Determine the increased amount of the contribution that the depositor will receive at the end of the term, if he placed a...

Kyrsten Haas expects an S corporation investment to generate a profit of $200,000. Her share of the S corporation is 15%. What is Kyrstens income tax if no cash is distributed? Kyrsten's marginal tax...

Dalton Inc. produces and sells three products. Unit data concerning each product is shown below. The company has 2,000 hours of labor available to build inventory in anticipation of the company's...

Explain why resonance occurs for undamped systems when the natural frequency coincides with the excitation frequency.

=+a) Would Spearmans rho be an appropriate summary of the strength of the association shown here?

The following account balances come from the records of King Company: During the accounting period, King recorded $21,000 of service revenue on account. The company also wrote off a $180 account...

Daniel Crane is the sole shareholder of Crane Inc., which is currently under bankruptcy court protection. As a debtor in possession, he has negotiated a revised loan agreement with United Bank. Crane...

1. The model should list the given financial information for all potential projects. 2. The model should associate with each proposed project a cell that is 1 if the project is approved and 0 if it...

Out each to of 1000 families 3 childern you expect would how Many have 1 2 boys 1 girl 11 2 girls I boy

The script should run every 30 minutes using a cron job under user "bill" and work exactly as described in the man page accompanying this exercise. When a zombie is detected a log message is appended...

Which bias helps to explain why people like to go to all-inclusive resorts, where the entire cost of the vacation is paid upfront, and guests don't have to pay for individual meals, drinks,...

A local gym is looking in to purchasing more exercise equipment and runs a survey to find out the preference in exercise equipment amongst their members. They categorize the members based on how...

Interest on a credit card's unpaid balance is calculated using the average daily balance. Suppose that netBalance is the balance shown in the bill, payment is the payment made, d1 is the number of...

125. Suppose that people finally realize that they must save a larger proportion of their income in order to retire and that they simultaneously begin to use new technology that allows them to reduce...

What was the change in the percentage of people reporting that they worked remotely 3 or more days a week from January 2020 to January 2021 in the UK?

In the current year, the City of Omaha donates land worth $500,000 to Ace Corporation to induce it to locate in Omaha and create an estimated 2,000 jobs for its citizens. a. How much income, if any,...

Suppose a firm estimates its required rate of return for the coming year to be 10 percent. What are reasonable required rates of return for evaluating average-risk projects, high-risk projects, and...

Tapley Corporations 14 percent coupon rate, semiannual payment, $1,000 par value bonds mature in 30 years. The bonds sell at a price of $1,353.54, and their yield curve is flat. Assuming that...

Assume that asymmetric information exists in the financial markets. If a firms earnings fluctuate every year, everything else being equal, which of the dividend policies discussed in the chapter...

Solve the following proportions for the unknown quantities a:58:132 = 38:27:b

Solve the following proportions for the unknown quantities

Victoria Developments has obtained $3.6 million of total capital from three sources. Preferred shareholders contributed $550,000 (preferred equity), common shareholders contributed $1.2 million...