Assignment Detail


How much money must he repay month

    Assignment Instructions

    Assignment Help >> Business Management


    1. An engineer has just borrowed P8000 from a local bank. at the rate of 1% per month on the unpaid balance. His contract states that he must repay the loan im 35 equal monthly installments. How much money must he repay each month?

    2. A man plans to buy a P150, 000 house. He wants to make a down payment of P30, 000 and to take out a 30years mortgage for the remaining P120, 000, at 10% per years, compounded monthly. How much must be repay each month?

    3. Glenn borrowed money from a bank. She received from the bank Php13, 420 and promised to pay Php15, 000 at the end of 9months. At what simple interest did the bank charge?

    Need fresh solution to this Assignment without plagiarism?? Get Quote Now

    Expert Answer

    Asked by: Anonymous
    Plagiarism Checked
    Answer Rating:

    Plagiarism free Answer files are strictly restricted for download to the student who originally posted this question.

    Related Assignments

    Our customer support team is here to answer your questions. You can send Assignments directly to support team.
    👋 Hi, how can I help?