6. A consumer loan worth 83,000 pesos is to be repaid in 18 months at 8% convertible monthly. How much is the monthly payment? 7. Mr. De Vera got a 96,000-peso loan to be repaid semi-annually in 3 % years. If interest rate is 15% compounded semi-annually, how much is the semi-annual payment? 8. A loan of 67,000 pesos is to be amortized by paying quarterly in 1 year. If the money is worth 12% compounded quarterly, how much is the monthly installment?
6. A consumer loan worth 83,000 pesos is to be repaid in 18 months at 8% convertible monthly. How much is the monthly payment? 7. Mr. De Vera got a 96,000-peso loan to be repaid semi-annually in 3 % years. If interest rate is 15% compounded semi-annually, how much is the semi-annual payment? 8. A loan of 67,000 pesos is to be amortized by paying quarterly in 1 year. If the money is worth 12% compounded quarterly, how much is the monthly installment?
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 17P
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Question
No.8 and 6. Step by step solution. I CANNOT UNDERSTAND EXCEL
Transcribed Image Text:1. A business loan of 1,200,000 pesos is to be paid in full after 5 years. If the interest
rate is 4% per annum. How much should be paid after 5 years?
2. Mr. Layug had a 43,000-peso business loan that is to be paid in 8 months. If
interest rate is 8% compounded monthly, how much should be paid after 8
months?
3. For the purchase of a car worth 1,060,000 pesos, the bank requires a minimum
amount of 15% down payment. Find the mortgaged amount.
4. Suppose that a condominium unit is purchased for 2,400,000 pesos and the bank
requires 25% down payment, how much is the mortgaged amount?
5. Mr. Villanueva obtained a 3,800,000-peso mortgage. If the monthly payment is
45,000 pesos for 10 years, how much is the total interest paid?
6. A consumer loan worth 83,000 pesos is to be repaid in 18 months at 8% convertible
monthly. How much is the monthly payment?
7. Mr. De Vera got a 96,000-peso loan to be repaid semi-annually in 3 % years. If
interest rate is 15% compounded semi-annually, how much is the semi-annual
payment?
8. A loan of 67,000 pesos is to be amortized by paying quarterly in 1 year. If the
money is worth 12% compounded quarterly, how much is the monthly installment?
9. Mr. and Mrs. Ignacio had a lousing loan payable monthly for 15 years. After paying
for 4 years, how many payments are left?
10. Before borrowing a money. What are the important things to consider? Elaborate
your answer.
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