Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3.  mark borrows ?250,000 and promises to pay the pr

 Mark borrows ?250,000 and promises to pay the principal and interest at 9% compounded monthly....

90.2K

Verified Solution

Question

Accounting

Mark borrows ?250,000 and promises to pay the principal and interest at 9% compounded monthly. How much must he repay after 5 years?


2. How long will a principal earn an interest equal to half of it at 4% simple interest?


3. Mr. Santos started to deposit P5 000 quarterly in a fund that pays 1% compounded quarterly. How much will be in the fund after 6 years?


4. Paolo borrowed P100 000. He agrees to pay the principal plus interest by paying an equal amount of money each year for 3 years. What would be his annual payment if interest is 8% compounded annually.


image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students