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Jenny Soto
Jenny Soto

The document summarizes interviews conducted for off-campus research about financial products and concepts. Respondents discussed their experiences with interest, loans, insurance, and credit cards. They provided details on requirements, benefits, and sample computations for loans, insurance premiums, and credit card interest calculations. The document also explains concepts like annuities and how they apply to the company's services.

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A compilation of all of the interviews made upon conducting a proper off- campus research.
Have you experienced interest, discounting, or annuity? Do you avail of business loan, buy insurance, or avail of financing through discounting? Experienced Interest Yes, I did avail for business loan and insurance When, how, where? +When: After retirement +How: *Peer to peer lending +Where: Credit unions, banks, legit lending owners Requirements? Benefits? Requirements: Photocopy of 2 Government issued IDs with signature and photo Valid DTI certificate Mayors Permit Photocopy of recent 3 months bank statement Benefits: Can purchase a house, buy a car, or start a business
Monthly Due Loan Amount 3 Months 4 Months 5 Months 6 Months 7 Months 8 Months P 40,000 P 14,733 P 11,400 P 9,400 P 8,067 P 7,114 P 6,400 P 50,000 P 18,417 P 14,250 P 11,750 P 10,084 P 8,893 P 8,000 P 100,000 P 36,834 P 28,500 P 23,500 P 20,167 P 17,786 P 16,000 P 150,000 P 55,250 P 42,750 P 35,250 P 30,250 P 26,679 P 24,000 P 200,000 P 73,667 P 57,000 P 47,000 P 47,000 P 35,572 P 32,000 P 250,000 P 92,084 P 71, 250 P 58,750 P 58,750 P 44,465 P 40,000 P 300,000 P 110,500 P 85,500 P 70,500 P 60,500 P 53,358 P 48,000 Manner of Payment: Monthly, can be paid via POST-DATED CHEQUES on a semi-monthly or tri-monthly basis. Note: *Peer to peer lending, or person to person lending, allows you to skip the bank and borrow from individuals. You can borrow from complete strangers or just use peer to peer lending services to structure loans between friends and family.
Have you experienced interest, discounting, or annuity? Do you avail of business loan, buy insurance, or avail of financing through discounting? Experienced Interest Yes, we did avail for business loan When, how, where? +When: 1 year ago +How: Bank Loan +Where: BDO Requirements? Benefits? Requirements: Photocopy of 2 Government issued IDs with signature and photo 1 1x1 and 2x2 photos Valid DTI certificate Mayors Permit Photocopy of recent 3 months bank statement Benefits: You can choose whether to immediately start your business after the loan or not
Sample Computation: Manner of Payment: Monthly
Insurance Plan and credit card holder of what company? Insurance Plan holder of Eternal Plans, Inc. insurance company Credit Card holder of BPI Express Credit/The pure Mileage Card How did you apply for one? Insurance: Through an insurance agent Credit Card: Through inquiring and application invitation of the bank
Is insurance and investment or expense? Why? What is the purpose of insurance? Insurance is an investment because when you finish applying for one, you already know that all of your future financial expenses when something might happen will already be secured. How is the payment donewhere do you pay? How much? When, for how long? The payment is done semi-annually. I pay at the insurance agent or the insurance company. P4,632.00. It will be a 6 month long duration for 5 years. How much interest is charged on the use of credit card? What are the other fees paid? The interest would be 3.40%. The other fees that will be paid would be the annual membership fee of P2,050.00, supplementary fee of P1,025.00 when you reach the 6th supplementary period.
Sample Computation made on the insurance and credit card: Insurance: Life insurance is expressed as a rate per P1,000 of insurance. To calculate Life Insurance premium you take the benefit volume per P1,000 of coverage multiplied by the monthly rate. For example, to calculate the monthly premium based on a 2x annual earnings (assume P40,000) schedule and a rate of P0.12 per P1,000 of coverage per month, the calculation is: Benefit Volume * Rate / P1,000 = Monthly premium P80,000 * 0.12 / P1,000 = P9.60
25% disability, 25% of the 60% disability, 150% of 100% disability, 350% of Sample calculations capital is paid out the capital is paid out the capital is paid out Sum insured CHF 200,000 CHF 200,000 CHF 200,000 Degree of disablement 25% according to the 60% according to the 100% according to the indemnity scale indemnity scale indemnity scale Capital payment CHF 50,000 CHF 300,000 CHF 700,000
1. The sum of all transactions for the day is computed. e.g. P 2,000.00 + P 500.00 - P 1,000 payment = P 1,500 2. The sum of all transactions is multiplied by the applicable interest rate, (then multiplied by the number of days until the Statement Date and) divided by 30. The result is the finance charge for the day. say 10 days till statement date : P 1,500.00 x 3.5% per month/30 = P 1.75/day x 10 days = P 17.50 3. This results to the new Outstanding Balance that will be carried over to the next Balance P 1,500.00 + P 17.50 = P 1,517.50 this months balance Suppose you did not pay anything, thus : P 1,517.50 x 3.5% p.m. = P 53.11 hence : Last Months Balance + Interest = This Month's Balance P 1,517.50 + P 53.11 = P 1,570.61 new effective interest rate = 3.5305% (and increasing )
What is annuity? Annuity is any continuing payment with a fixed total annual amount How is this applicable to the service offered by the company? It is applicable to the service offered by the company by providing us employees and our respective clients to allot certain financial necessity an assurance of money on a said time.
Sample Computation 1: PMT = 5,000 i = .06 n=5 PVoa = 5,000 [(1 - (1/(1 + .06)5)) / .06] = 5,000 (4.212364) = 21,061.82 Year 1 2 3 4 5 Begin 21,061.82 17,325.53 13,365.06 9,166.96 4,716.98 Interest 1,263.71 1,039.53 801.90 550.02 283.02 Withdraw -5,000 -5,000 -5,000 -5,000 -5,000 End 17,325.53 13,365.06 9,166.96 4,716.98 .00
Sample Computation 2: PMT = 5,000 i = .06 n=5 PVoa = 21,061.82 (1.06) = 22,325.53 Year 1 2 3 4 5 Begin 22,325.53 18,365.06 14,166.96 9,716.98 5,000.00 Interest 1,039.53 801.90 550.02 283.02 Withdraw -5,000.00 -5,000.00 -5,000.00 -5,000.00 -5,000.00 End 18,365.06 14,166.96 9,716.98 5,000.00 .00

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Bmathpowerpoint

  • 1. A compilation of all of the interviews made upon conducting a proper off- campus research.
  • 2. Have you experienced interest, discounting, or annuity? Do you avail of business loan, buy insurance, or avail of financing through discounting? Experienced Interest Yes, I did avail for business loan and insurance When, how, where? +When: After retirement +How: *Peer to peer lending +Where: Credit unions, banks, legit lending owners Requirements? Benefits? Requirements: Photocopy of 2 Government issued IDs with signature and photo Valid DTI certificate Mayors Permit Photocopy of recent 3 months bank statement Benefits: Can purchase a house, buy a car, or start a business
  • 3. Monthly Due Loan Amount 3 Months 4 Months 5 Months 6 Months 7 Months 8 Months P 40,000 P 14,733 P 11,400 P 9,400 P 8,067 P 7,114 P 6,400 P 50,000 P 18,417 P 14,250 P 11,750 P 10,084 P 8,893 P 8,000 P 100,000 P 36,834 P 28,500 P 23,500 P 20,167 P 17,786 P 16,000 P 150,000 P 55,250 P 42,750 P 35,250 P 30,250 P 26,679 P 24,000 P 200,000 P 73,667 P 57,000 P 47,000 P 47,000 P 35,572 P 32,000 P 250,000 P 92,084 P 71, 250 P 58,750 P 58,750 P 44,465 P 40,000 P 300,000 P 110,500 P 85,500 P 70,500 P 60,500 P 53,358 P 48,000 Manner of Payment: Monthly, can be paid via POST-DATED CHEQUES on a semi-monthly or tri-monthly basis. Note: *Peer to peer lending, or person to person lending, allows you to skip the bank and borrow from individuals. You can borrow from complete strangers or just use peer to peer lending services to structure loans between friends and family.
  • 4. Have you experienced interest, discounting, or annuity? Do you avail of business loan, buy insurance, or avail of financing through discounting? Experienced Interest Yes, we did avail for business loan When, how, where? +When: 1 year ago +How: Bank Loan +Where: BDO Requirements? Benefits? Requirements: Photocopy of 2 Government issued IDs with signature and photo 1 1x1 and 2x2 photos Valid DTI certificate Mayors Permit Photocopy of recent 3 months bank statement Benefits: You can choose whether to immediately start your business after the loan or not
  • 5. Sample Computation: Manner of Payment: Monthly
  • 6. Insurance Plan and credit card holder of what company? Insurance Plan holder of Eternal Plans, Inc. insurance company Credit Card holder of BPI Express Credit/The pure Mileage Card How did you apply for one? Insurance: Through an insurance agent Credit Card: Through inquiring and application invitation of the bank
  • 7. Is insurance and investment or expense? Why? What is the purpose of insurance? Insurance is an investment because when you finish applying for one, you already know that all of your future financial expenses when something might happen will already be secured. How is the payment donewhere do you pay? How much? When, for how long? The payment is done semi-annually. I pay at the insurance agent or the insurance company. P4,632.00. It will be a 6 month long duration for 5 years. How much interest is charged on the use of credit card? What are the other fees paid? The interest would be 3.40%. The other fees that will be paid would be the annual membership fee of P2,050.00, supplementary fee of P1,025.00 when you reach the 6th supplementary period.
  • 8. Sample Computation made on the insurance and credit card: Insurance: Life insurance is expressed as a rate per P1,000 of insurance. To calculate Life Insurance premium you take the benefit volume per P1,000 of coverage multiplied by the monthly rate. For example, to calculate the monthly premium based on a 2x annual earnings (assume P40,000) schedule and a rate of P0.12 per P1,000 of coverage per month, the calculation is: Benefit Volume * Rate / P1,000 = Monthly premium P80,000 * 0.12 / P1,000 = P9.60
  • 9. 25% disability, 25% of the 60% disability, 150% of 100% disability, 350% of Sample calculations capital is paid out the capital is paid out the capital is paid out Sum insured CHF 200,000 CHF 200,000 CHF 200,000 Degree of disablement 25% according to the 60% according to the 100% according to the indemnity scale indemnity scale indemnity scale Capital payment CHF 50,000 CHF 300,000 CHF 700,000
  • 10. 1. The sum of all transactions for the day is computed. e.g. P 2,000.00 + P 500.00 - P 1,000 payment = P 1,500 2. The sum of all transactions is multiplied by the applicable interest rate, (then multiplied by the number of days until the Statement Date and) divided by 30. The result is the finance charge for the day. say 10 days till statement date : P 1,500.00 x 3.5% per month/30 = P 1.75/day x 10 days = P 17.50 3. This results to the new Outstanding Balance that will be carried over to the next Balance P 1,500.00 + P 17.50 = P 1,517.50 this months balance Suppose you did not pay anything, thus : P 1,517.50 x 3.5% p.m. = P 53.11 hence : Last Months Balance + Interest = This Month's Balance P 1,517.50 + P 53.11 = P 1,570.61 new effective interest rate = 3.5305% (and increasing )
  • 11. What is annuity? Annuity is any continuing payment with a fixed total annual amount How is this applicable to the service offered by the company? It is applicable to the service offered by the company by providing us employees and our respective clients to allot certain financial necessity an assurance of money on a said time.
  • 12. Sample Computation 1: PMT = 5,000 i = .06 n=5 PVoa = 5,000 [(1 - (1/(1 + .06)5)) / .06] = 5,000 (4.212364) = 21,061.82 Year 1 2 3 4 5 Begin 21,061.82 17,325.53 13,365.06 9,166.96 4,716.98 Interest 1,263.71 1,039.53 801.90 550.02 283.02 Withdraw -5,000 -5,000 -5,000 -5,000 -5,000 End 17,325.53 13,365.06 9,166.96 4,716.98 .00
  • 13. Sample Computation 2: PMT = 5,000 i = .06 n=5 PVoa = 21,061.82 (1.06) = 22,325.53 Year 1 2 3 4 5 Begin 22,325.53 18,365.06 14,166.96 9,716.98 5,000.00 Interest 1,039.53 801.90 550.02 283.02 Withdraw -5,000.00 -5,000.00 -5,000.00 -5,000.00 -5,000.00 End 18,365.06 14,166.96 9,716.98 5,000.00 .00