An obligation will be amortized by monthly installments of PHP 5,250 for 8 years and 8 months with interest rate of 8%. Find the value of the obligation.

TRUE OR FALSE

1. A financing company is regulated by the SEC and a lending company is regulated by the BSP.

2. Pawn shops issue loans without necessarily doing a background check on the borrower.

3. Credit reporting bureaus run their scoring models solely on credit card data.

4. A lending company with an unsecured loan product can add a co-maker requirement as a means of protecting the business against default risk.

5. You are creating a new product to pay utility bills by using a loan. An installment loan the best type of product for this.