23. Dina decided to purchase a P1,500,000 house and lot. After deducting the down payment, the mortgage amount is P1,000,000. If the interest is at 10% compounded monthly, how much is the monthly installment if they plan to amortize the loan in 25 years? A. P9,000.25 B. P9,031.25 C. P9,051.25 D. P9,061.25
23. Dina decided to purchase a P1,500,000 house and lot. After deducting the down payment, the mortgage amount is P1,000,000. If the interest is at 10% compounded monthly, how much is the monthly installment if they plan to amortize the loan in 25 years? A. P9,000.25 B. P9,031.25 C. P9,051.25 D. P9,061.25
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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