AMORTIZATION.

CASE: A man sold his property for 16,000,000 pesos and was promised 50% down payment and the balance was to be amortized with quarterly payments for a period of three years. He took the deal except that amortization was deferred for one year. Determine the quarterly amortization when interest is at 8% per year. Questions: 1. How much is the quarterly amortization if the man insists that he be paid in full after three years? 2. How much is the quarterly amortization if the man agrees to start counting the three year period after the 1-year deferment? 3. Construct a cash flow diagram for the two scenarios. 4. Construct the amortization table, for the two scenarios