A loan of P 50,000 is-to be amortized by paying quarterly in 1 year. If money is worth 10% compounded quarterly, how much is the monthly installment?
A loan of P 50,000 is-to be amortized by paying quarterly in 1 year. If money is worth 10% compounded quarterly, how much is the monthly installment?
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Activity 1: Solving Problems on Business and Consumer Loans
Solve the following problems completely:
A business loan of P 1,000,000 is to be repaid in full after 3 years. If the interest
rate is 7% per annum. How much should be paid after 3 years?
Ms. Newman had a P 55,000 business loan that is to be paid in 8 months. If
interest rate is 12% compounded monthly, how much should be paid after
1.
2.
8 months?
For the purchase of an SUV worth P 1,200,000, the bank requires a
minimum amount of 20% down payment, find the mortgaged amount.
Suppose that a condominium unit is purchased for P 2,800,000 and the
bank requires 30% down payment, how much is the mortgaged amount?
A family obtained a P 4,500,000 mortgage. If the monthly payment is P50,000 for
12 years, how much is the total interest paid?
Ms. Santos obtained a condominium unit loan worth P 2,700,000. If the monthly
3.
D
4.
5.
6.
payment is P 29,100 for 15 years, how much is the total interest?
A consumer loan worth P 75,000 is to be repaid in 18 months at 12% convertible
monthly. How much is the monthly payment?
A loan of P 50,000 is-to be amortized by paying quarterly in 1 year.
worth 10% compounded quarterly, how much is the monthly installment?
Mr and Mrs Ramos had a housing loan payable monthly for 25 years. After
paying for 12 years, how many payments are left?
10. Ms. Castillo got a business loan worth P 850,000. She promised to pay the loan
quarterly in 4 years. The quarterly payment is P 65,109.14 if money is worth 10%
converted quartèrly. How much is the outstanding balance after-the second-year?
7.
8.
If
money
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9.
wo
Activity 2: Problem Solving
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