Mr. Marc Pogi wish to purchase ahouse and lot in San Carlos Cityworth 2,200,000 pesos and the sellerrequires a 15% down payment. ThenMr. Marc Pogi will loan 6.5% monthtlyinterest rate to be paid for 20 years.Answer the following questions andfind the unknown value needed in theamortization table below for the first6 months of payment.PeriodMonthly AmortizationInterestPrincipalOutstanding Balance1A?23c?4B?D?

For the loan amortization table we have the following input parameters: Loan amount = 2,200,000 -…

Mr. Marc Pogi wish to purchase a house and lot in San Carlos City worth 2,200,000 pesos and the seller requires a 15% down payment. Then Mr. Marc Pogi will loan 6.5% monthtly interest rate to be paid for 20 years.

Mr. Marc Pogi wish to purchase a house and lot in San Carlos City worth 2,200,000 pesos and the seller requires a 15% down payment. Then Mr. Marc Pogi will loan 6.5% monthtly interest rate to be paid for 20 years.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 17P

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Question

Mr. Marc Pogi wish to purchase a
house and lot in San Carlos City
worth 2,200,000 pesos and the seller
requires a 15% down payment. Then
Mr. Marc Pogi will loan 6.5% monthtly
interest rate to be paid for 20 years.
Answer the following questions and
find the unknown value needed in the
amortization table below for the first
6 months of payment.
Period
Monthly Amortization
Interest
Principal
Outstanding Balance
1
A?
2
3
c?
4
B?
D?

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