7. A loan of ₱425,000 is to be repaid in full after 3 years. If the interest rate is 9% per annum. How much should be paid after 3 years ? a. ₱550,387.33 b. ₱437,452.18 c. ₱356,430 d. ₱286,907

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7. A loan of ₱425,000 is to be repaid in full after 3 years. If the interest rate is 9% per annum. How much should be paid after 3 years ? a. ₱550,387.33 b. ₱437,452.18 c. ₱356,430 d. ₱286,907 10. Mr. and Mrs. Banal purchased a house and lot worth ₱4,000,000. They paid a down payment of ₱800,000. They plan to amortize the loan of ₱3,200,000 by paying monthly for 20 years. The interest rate is 12% convertible monthly. What is the total interest paid? a. ₱35,234.76 b. ₱58,914.78 c. ₱3,200,000 d. ₱5,256,342.40
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