28. A loan amounting to P100,000 is to be paid annually for 4 years with an interest rate of 10% per annum. The annual amortization is P31,547.08. Principal Component Component of Payment Interest Regular Payment R Outstandin g Balance Period of Payment A 1 B 10,000 21,547.08 78,452.92 2 31,547.08 D 54,751.13 3 31,547.08 5,475.11 26,071.97 28,679.16 4 31,547.08 2,867.92 28,679.16 TOTALS A. How much is the amount of the loan? B. How much is the payment on the first period? C For the second payment how much gres tn pay thR interest? D. For the second payment, how much goes to pay the prinopal? E. How much is the outstanding balance after the 4" payment?
28. A loan amounting to P100,000 is to be paid annually for 4 years with an interest rate of 10% per annum. The annual amortization is P31,547.08. Principal Component Component of Payment Interest Regular Payment R Outstandin g Balance Period of Payment A 1 B 10,000 21,547.08 78,452.92 2 31,547.08 D 54,751.13 3 31,547.08 5,475.11 26,071.97 28,679.16 4 31,547.08 2,867.92 28,679.16 TOTALS A. How much is the amount of the loan? B. How much is the payment on the first period? C For the second payment how much gres tn pay thR interest? D. For the second payment, how much goes to pay the prinopal? E. How much is the outstanding balance after the 4" payment?
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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Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
Question
Transcribed Image Text:Lesson 35 Supplementary Exercises
27. Study the amortization schedule and fill in the blanks.
28. A loan amounting to P100,000 is to be paid annually for 4 years with an interest
rate of 10% per annum. The annual amortization is P31,547.08.
Regular
Рayment R
Interest
Component
of Payment
Principal
Component
of Payment
Outstandin
Period
g Balance
A
1
B
10,000
21,547.08
78,452.92
31,547.08
D
54,751.13
3
31,547.08
5,475.11
26,071.97
28,679.16
4
31,547.08
2,867.92
28,679.16
E
TOTALS
A. How much is the amount of the loan?
B. How much is the payment on the first period?
C For the second payment, how miuch gnes to pay the inferest?
D. For the second payment, how much goes to pay the principal?
E. How much is the outstanding balance after the 4" payment?
2.
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