A loan is made by a company agreeing to pay in 15 equal annual payments. How much of the original principal is still unpaid after he has made the 8th payment if the company borrows P 600,000 compounded annually? Your answer A man deposited P 6,000 at the end of every month for 4 years what would be the Future worth if the interest rate is 12% compounded quarterly? Your answer 25 A new office building was constructed 5 years ago by a consulting engineering firm. At that time the firm obtained the bank loan for P 10,000,000 with a 20% annual interest rate, compounded quarterly. The terms of the loan called for equal quarterly payments for a 10-year period with the right of prepayment any time without penalty. Due to internal changes in the firm, it is now proposed to refinance the loan through an insurance company. The new loan is planned for a 20-year term with an interest rate of 24% per annum, compounded quarterly. The insurance company has a onetime service charge 5% of the balance. This new loan also calls for equal quarterly payments. What is the balance due on the original mortgage (principal) if all payments have been made through a full five years? What will be the difference between the equal quarterly payments in the existing arrangement and the revised proposal? Your answer 20 A small lot in a subdivision was purchased by Carlos paying P200,000 as down payment and promise to pay P15,000 every 3 months for the next 10 years. The estate broker figured interest at 12% compounded quarterly. What was the cash price of the lot? If Carlos missed the first 12 payments, what must he pay at the time the 13th is due to bring him up to date? After making 8 payments, Carlos wished to discharge his remaining indebtedness by a single payment at the time when the 9th regular payment was due, what must he pay in addition to the regular payment then due? If Carlos missed the first 10 payments, what must he pay when the 11th payment is due to discharge his entire indebtedness? Your