Answer:
1. $361800
Step-by-step explanation:
Given,
principle balance=$670
interest rate=8%
[tex]A=P(1+\frac{r}{n})(nt)[/tex]
A= Final amount
P= initial Principal balance
r= interest rate
n= number of times interest applied per time period
t= number of times period elapsed
compound interest formula,[tex]A=670(1+\frac{8}{1})(60) )\\A=361800[/tex]
Therefore the Present value is $361800
Payment of $ 670 with interest every month 8%
Then the payment is made for 5 years
If this year is the fifth year, the total payment is
($ 670 + 8%) x 60 months (1 Year 12 Months, 12 Months multiplied by 5)
($ 670 + $ 53.6 (monthly interest)) x 60
$ 723.6 x 60 = $ 43,416
So, the current value is $ 43,416
The formula for calculating Alimony for workers who have worked for 12 months is 1 x Wage/month. Wages here are the amount of basic salary plus fixed allowances.
Basic Salary: Rs 12,000
(for example) Alimony: Rs 1,300
So, the calculation of Alimony entitled to be obtained by Mr. Arslan's is as follows:
1 x (Rs 12,000 + Rs 1,300) = Rs 13,300
Each type of loan has a difference in the way the interest is calculated. Even though the interest rate is the same, a different calculation will affect the number of installments that you must pay each month.
The calculation of loan interest or savings interest usually depends on the rules of the financial institution or the agreement of the parties that carry out savings and loan transactions. Savings and loan types also vary, ranging from flat interest or only applies once, and there are also interest rates that are futures.
Flat Interest Calculation
The flat interest rate is the easiest loan interest calculation. By using a flat interest calculation, you will pay the same principal and interest every month.
Effective Interest Calculation
Calculation of the effective interest rate, also known as the sliding rate, is the calculation of loan interest at the end of each installment period. Loan interest is calculated from the final balance each month.
Annuity Interest Calculation
An annuity rate calculation is a modification of the effective loan interest calculation. It aims to make it easier for customers to pay installments every month.
Employee Salary Calculation Method
Calculate the number of working days in a month, for example in January 2018 (Monday - Friday) there are 23 working days. Of these 23 days, suppose employee X enters into 23 working days.
Calculate the basic salary and benefits that have been set by the company, for example, Rs 12,000 in a month.
Calculate hourly wages divided by 173 hours of work, then get = Rs 12,000 / 173 = Rs 69.36,
Enter into the following formula
= Number of working days in a month x number of hours worked in a day x wage/hour
= 23 x 8 x Rs 69.36
= Rs 12,762.24
The figure of Rs 12,762.24 has not been deducted by taxes and other deductions
Rs is Sri Lanka currency
Learn More
Loan Interest https://brainly.com/question/13918421
The Calculated https://brainly.com/question/13903315
Details
Grade: Middle School
Subject: Mathematics/Business
Keyword: loan, interest, payment
