Answer the Situation below correctly show your complete solution. A loan of 30 000.00 Php is to be paid monthly for 5 years that will start at the end of 4 years . If converted monthly at 12 % , how much is the monthly payment ? a . The type of annuity illustrated in the problem is _________________. b. The total number of payments is ______.
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
Answer the Situation below correctly show your complete solution.
A loan of 30 000.00 Php is to be paid monthly for 5 years that will start at the end of 4 years . If converted monthly at 12 % , how much is the monthly payment ?
a . The type of
b. The total number of payments is ______.
c . The number of conversion period in the period deferral is ___________________.
d. The interest rate per period is _________.
e . The present value of the loan is_______.
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