2 A debt of P75,000 is to be amortized by giving payment of r15,000 at the end of each quarter at 3% simple interest every quarter. Construct the amortization schedule. а. Amount Payment Number of Payment Payment on Interest Payment on Principal Balance b. How much of the third payment is allotted for the interest? c. How much of the third payment is allotted for the principal? d. How much is the balance after the third payment? How many payments are needed to settle the debt? е. f. How much is the concluding payment? g. Find the total interest to be paid.
2 A debt of P75,000 is to be amortized by giving payment of r15,000 at the end of each quarter at 3% simple interest every quarter. Construct the amortization schedule. а. Amount Payment Number of Payment Payment on Interest Payment on Principal Balance b. How much of the third payment is allotted for the interest? c. How much of the third payment is allotted for the principal? d. How much is the balance after the third payment? How many payments are needed to settle the debt? е. f. How much is the concluding payment? g. Find the total interest to be paid.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Transcribed Image Text:2 A debt of P75,000 is to be amortized by giving payment of P15,000
at the end of each quarter at 3% simple interest every quarter.
Construct the amortization schedule.
а.
Amount
Payment
Number of Payment
Payment
on Interest
Payment
on Principal
Balance
b. How much of the third payment is allotted for the interest?
c. How much of the third payment is allotted for the principal?
d. How much is the balance after the third payment?
How
many payments are needed to settle the debt?
е.
f. How much is the concluding payment?
g. Find the total interest to be paid.
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