On October 31, 2019, Strongman Samson borrowed P100,000.00 from Pretty Delilah subject to an interest rate of 6% per year until full payment. If Samson is able to pay both the principal and the interest on March 10, 2020, how much should Samson prepare in order to satisfy his agreement with Delilah?
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- On June 26, 2019, Naomi obtained a loan of P150,000 from a local businessman. The interest rate on the loan was 7.75% and it is to be paid on November 15, 2020. What is the Ordinary simple interest using exact time?Charlie Chaplin borrowed P100,000.00 on October 31 2019 from Mr. Beans and the loan has an interest rate of 6 % per year until full payment. How much should Chaplin pay Bean on March 10, 2020 in order to fully satisfy the obligation?On July 12, 2019, Veronica borrowed P100,000 and agreed to pay the interest at 7% compounded monthly. How much must she pay if she wanted to discharge this debt on April 12, 2020?
- Otto Co. borrows money on April 30, 2019, by promising to make four payments of $13,000 each onNovember 1, 2019; May 1, 2020; November 1, 2020; and May 1, 2021. How much money is Otto able to borrow if the interest rate is 16%, compounded semiannually?On 12 May 2019, Alaa invested his money in Certificate of Deposit (CD) of Bank TTC, this CD has 5000 $ of face value and 6 percent interest.This CD will mature on 10 December 2019. Calculate the effective rate on his investment in this CD. ( assume 1 year are 365 days)Kavish loans $15,000 to his business partner on June 1st, 2020. The terms of the loan state that interest of 5% compounded annually will be paid when the loan matures on May 31st, 2022. What is the amount of interest income that Kavish must report in each year from 2020 2022? Show your calculations.
- Heather owes Mark $10.000 payable on September 2021. If money can earn 12 %, what amount should Mark accept in settlement of the debt:A) 30 days before the scheduled payment?B) 90 days before the scheduled payment?ali has invested his money to a CD of Bank TTC on 14 June 2019. The CD matures on 12 October 2019. The CD has a face value of 8000 $ and 7 interest. Calculate the market price of this CD if the market interest rate is 12 percent. ( assume 1 year are 365 days)On February 19, 2026, Anna will need P 40,000. Assume that the annual effective interest is 7%. How much would Anna have to deposit on March 25, 2022 in order to be able to withdraw an amount of P40,000 on February 19, 2026?
- Devine purchased an annuity of N$1 500 per month from an insurer on 31 May 2019. The cash consideration paid by Devine was N$420 000 and the total expected returns of all the annuities as per the contract amounts to N$560 000. She received the first monthly cheque of N$1 500 on 30 June 2019. Required: Calculate the exempted capital element of the annuity received by Devine for the 2020 year of assessment. Answer:On January 1, 2019, Joan Campbell borrows $20,000 from Susan Rone and agrees to repay this amount in payments of $4,000 a year until the debt is paid in full. Payments are to be of an equal amount and are to include interest at 12% on the unpaid balance of principal at the beginning of each period. Assuming that the first payment is to be made on January 1, 2020, determine the number of payments of $4,000 each to be made and the amount of the final payment.Dillion Savage decides to make semiannual $5000 deposits into an account that pays 5% compounded semiannually. If his first deposit is on January 1, 2021, then how much is in the account immediately after the deposit on January 1, 2030?