1. Your sister bought a condominium unit for P9 300 through a condominium loan which she availed of from a universal bank at a fixed annual rate of 8% for 10 years. How much would be your sister's monthly amortization if she is required to pay an equity of 30% of the total price of the condominium? How much is the remaining balance after the 36th payment?

Q: 3. Peter Parker and MJ decide to buy a one-bedroom condo in Manhattan. Determine the monthly payment…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Supposed you want to buy a used car but your savings is not enough. To do this, you borrow P60,000…

A: Loan amortization is the process of scheduling out a fixed-interest rate loan into scheduled…

Q: Your sister bought a condominium unit for P9 300 000 through a condominium loan which she availed of…

A: Price of P9 is 300000 interest 8% for 10 years  Required equity 30%

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A: Amortization is a strategy used in accounting to reduce the book value of a loan or intangible asset…

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A: Given:

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Q: b) You have decided to buy an apartment costing $140,000. At preseñt you have $10,000 to be paid as…

A: Answer : Cost of Apartment = $140,000 Down payment = $10,000   Loan = Cost of Apartment - Down…

Q: 1. An employee obtained a loan of P 10,000 at the rate of 6% compounded annually in order to build a…

A: Since you have asked multiple questions, we will solve the first question as per policy. Please ask…

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A: Solution Given Alternative 1 Simple interest Rate 10% Present value 2500000…

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A: In Accounting, Amortization refers to reducing the value for any asset specifically intangible asset…

Q: your sister bought a condominuim unit for 9,300,000 peso through a condominium loan which she avaied…

A: The monthly amortization is the payment that has to be paid or received at the end of every month.

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A: Loans are paid by the monthly payments and these are equal monthly installments and these carry the…

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A: Mortgage amortization refers to a schedule which is prepared to shows the periodic loan payments,…

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A: A down payment is an early stage payment made for a particular good purchased through financing.

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A: Mortgage installment refers to the periodic payment made against the loan. With every mortgage…

Q: To help buy her new condominium, Maria is taking out a $154,000 mortgage loan for 30 years at 3.7%…

A: The loan is a value that is borrowed from external sources like banks and this amount is repaid…

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A: The concept of the time value of money states that the current worth of money is more than its value…

Q: (a) Heather borrowed $5000 from her grandmother as a down payment on her first car. She promised to…

A: calculation of above requirement are as follows

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A: Solution: As per given - A young couple buying their first home borrow $90,000 for 30 years at 7.6%,…

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A: Present Value of perpetuity is sum of all present values discounted at required rate of return.…

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A: Amortization is the fall in the value of intangible asset over its useful life. It is recorded under…

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A: Please refer to the image below.

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A: This is the problem of the time value of money wherein the interest rate is mentioned and gets…

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A: Monthly amortization refers to the desired sum of the monthly payment for a fixed time of period…

Q: Your sister bought a condominium unit for P9 300 000 through a condominium loan which she availed of…

A: The monthly amortization is the payment that has to be paid or received at the end of every month.

Q: A young couple buying their first home borrow $90,000 for 30 years at 7.4%, compounded monthly, and…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

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Q: 1.A person buys a piece of lot P300,000 downpayment and 8 deferred quarterly payments of P8,000…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 2. Your aunt invested in a variable insurance product of universal bank. If her annual premium is…

A: The amount that should be invested today can be computed as the present value and The amount that…

Q: A couple secured a 4,000,000 php housing loan from a financing company that gives 12% interest…

A: Loan Amount = 4,000,000 php Interest Rate = 12% Time period = 20 years  Compounded monthly means 12…

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A: Amortized Loan:  Amortized loan is a type of loan in which the borrower would pay periodic payments…

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A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

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A: Amount required after 4 years $1,30,000 Interest Rate (6.1% /4) 1.525% Period (4 years * 4) 16

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A: It can be calculated using rate formula in excel. =RATE (nper, pmt, pv, [fv], [type], [guess])…

Q: Ann wants to buy an office building which costs $1,000,000. She obtains a 30 year partially…

A: Building Cost  $     10,00,000.00 LTV 100% Interest Rate 7% Time Period 30 Balloon Payment…

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.