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?

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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.