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Mr. Eugenio bought a house and lot at a cash value of 12,000,000.00 php. He made a down payment of 2,000,000.00 php while the remaining amount will be loaned from a bank. The loan will be payable for 20 years with quarterly payments at the end of every three months and an interest rate of 10% compounded quarterly. If Mr. Eugenio pays his amortization regularly, how much would be his outstanding balance after 10 years of paying? A 7,286,342.78 php B 7,178,240.92 php 9,548,946.80 php D 9,497,410.02 php

Mr. Eugenio bought a house and lot at a cash value of 12,000,000.00 php. He made a down payment of 2,000,000.00 php while the remaining amount will be loaned from a bank. The loan will be payable for 20 years with quarterly payments at the end of every three months and an interest rate of 10% compounded quarterly. If Mr. Eugenio pays his amortization regularly, how much would be his outstanding balance after 10 years of paying? A 7,286,342.78 php B 7,178,240.92 php 9,548,946.80 php D 9,497,410.02 php

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Mr. Eugenio bought a house and lot at a cash value of 12,000,000.00 php. He made a down payment of 2,000,000.00 php while the remaining amount will be loaned from a bank. The loan will be payable for 20 years with quarterly payments at the end of every three months and an interest rate of 10% compounded quarterly. If Mr. Eugenio pays his amortization regularly, how much would be his outstanding balance after 10 years of paying? A 7,286,342.78 php (в 7,178,240.92 php 9,548,946.80 php 9,497,410.02 php
Transcribed Image Text:Mr. Eugenio bought a house and lot at a cash value of 12,000,000.00 php. He made a down payment of 2,000,000.00 php while the remaining amount will be loaned from a bank. The loan will be payable for 20 years with quarterly payments at the end of every three months and an interest rate of 10% compounded quarterly. If Mr. Eugenio pays his amortization regularly, how much would be his outstanding balance after 10 years of paying? A 7,286,342.78 php (в 7,178,240.92 php 9,548,946.80 php 9,497,410.02 php
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