Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A loan is amortized by paying Php12.000 monthly for 36 months. If money 2 points Tworth 9% compounded monthly, how much is the outstanding balance

image text in transcribed

A loan is amortized by paying Php12.000 monthly for 36 months. If money 2 points Tworth 9% compounded monthly, how much is the outstanding balance after 12 payments? Php265,669.45 Php262,669.75 Php276,125.89 Php283 2554 25 Mr. and Mrs. Cruz obtained a Php4,500,000 mortgage. If the monthly payment is php50,000 for 12 years, how much is the total interest paid?* Php2,900,000 Pho2.850.000 Php2,800,000 O Php2,700,000 Gracie applied for a car loan worth php1,200,000 with an interest of 3% compounded semiannually. The car loan is to be repaid in full after 4 years How much is to be paid after 4 years? Php1,983,110.10 Php1,586,762.55 O Php1,282,406.64 Php1,351,791.10

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Finance Theory And Policy

Authors: Paul Krugman, Maurice Obstfeld, Marc Melitz

12th Global Edition

1292417005, 978-1292417004

More Books

Students also viewed these Finance questions

Question

=+a) Why is there no coefficient for Medium?

Answered: 1 week ago