A condominium unit is being amortized with a quarterly payment of P56,000 for 5 years at 3% compounded quarterly. The owner's outstanding balance is P2,000,000. If an amortization schedule will be created, how many terms will there be? A condominium unit is being amortized with a quarterly payment of P56,000 for 5 years at3% compounded quarterly. The owner's outstanding balance is P2,000,000. If anamortization schedule will be created, how many terms will there be?A 5B) 4C) 20D) 15

Quarterly Payment 56000 Rate of Interest 3% No of years 5 years

condominium unit is being amortized with a quarterly payment of P56,000 for 5 years at % compounded quarterly. The owner's outstanding balance is P2,000,000. If an mortization schedule will be created, how many terms will there be? (A 5 B) 4 20 15

condominium unit is being amortized with a quarterly payment of P56,000 for 5 years at % compounded quarterly. The owner's outstanding balance is P2,000,000. If an mortization schedule will be created, how many terms will there be? (A 5 B) 4 20 15

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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A condominium unit is being amortized with a quarterly payment of P56,000 for 5 years at 3% compounded quarterly. The owner's outstanding balance is P2,000,000. If an amortization schedule will be created, how many terms will there be?

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