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7. A loan of P 425,000 is to be repaid in full after 3years. If the interest rate is 9% per annum. How much should be paid after 3 years? A. P 550,387.33 B. P 437, 452.18 C. P 356,430 D. P 286,907 ome

7. A loan of P 425,000 is to be repaid in full after 3years. If the interest rate is 9% per annum. How much should be paid after 3 years? A. P 550,387.33 B. P 437, 452.18 C. P 356,430 D. P 286,907 ome

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Assessment 1. A money lent to an individual for a business purpose is called C. Collateral A. Business Loan D. Loan B. Consumer Loan 2. The assets used to secure the loan is called C. collateral D. payment A. asset B. loan 3. A loan, secured by a collateral, that the borrower is obliged to pay at specified terms. C. collateral D. amortization A., mortgage B. chattel mortgage 4. A mortgage on a movable property. A. mortgage B. chattel mortgage 5. Any remaining debt at a specified time. A. amortization C. collateral D. amortization C. balance D. outstanding balance B. mortgage 6. A method of paying a loan (principal and interest) on installment basis, usually of equal amounts at regular intervals. hete ol boeu C. balance D. outstanding balance A. amortization B. mortgage 7. A loan of P 425,000 is to be repaid in full after 3years. If the interest rate is 9% per annum. How much should be paid after 3 years? A. P 550,387.33 B. P 437, 452.18 C. P 356,430 D. P 286,907 ome 8. If a car loan of P 680,000 requires a 18% down payment. How much is the mortgage? A. P 122,400 B. P 221,040 C. P 383, 060 D. P 557,600 A consumer loan of P 200,000 is to repay in monthly installment for 1 year. How 9. much is the monthly payment if money is worth 1-% converted monthly? A. P 16,802.39 og eldavom s no opsp C. P 100,814.36 B. P 33,604.78 D. P 201,628.72 10. Mr. and Mrs. Banal purchased a house and lot worth P 4,000,000. They paid a down payment of P 800,000. They plan to amortize the loan of P 3,200,000 by paying monthly for 20 years. The interest rate is 12% convertible monthly. What is the total interest paid? A. P 35,234.76 C. P 3,200,000 D. P 5,256,342.40 B. P 58,914.78 Learning Tasks:
Transcribed Image Text:Assessment 1. A money lent to an individual for a business purpose is called C. Collateral A. Business Loan D. Loan B. Consumer Loan 2. The assets used to secure the loan is called C. collateral D. payment A. asset B. loan 3. A loan, secured by a collateral, that the borrower is obliged to pay at specified terms. C. collateral D. amortization A., mortgage B. chattel mortgage 4. A mortgage on a movable property. A. mortgage B. chattel mortgage 5. Any remaining debt at a specified time. A. amortization C. collateral D. amortization C. balance D. outstanding balance B. mortgage 6. A method of paying a loan (principal and interest) on installment basis, usually of equal amounts at regular intervals. hete ol boeu C. balance D. outstanding balance A. amortization B. mortgage 7. A loan of P 425,000 is to be repaid in full after 3years. If the interest rate is 9% per annum. How much should be paid after 3 years? A. P 550,387.33 B. P 437, 452.18 C. P 356,430 D. P 286,907 ome 8. If a car loan of P 680,000 requires a 18% down payment. How much is the mortgage? A. P 122,400 B. P 221,040 C. P 383, 060 D. P 557,600 A consumer loan of P 200,000 is to repay in monthly installment for 1 year. How 9. much is the monthly payment if money is worth 1-% converted monthly? A. P 16,802.39 og eldavom s no opsp C. P 100,814.36 B. P 33,604.78 D. P 201,628.72 10. Mr. and Mrs. Banal purchased a house and lot worth P 4,000,000. They paid a down payment of P 800,000. They plan to amortize the loan of P 3,200,000 by paying monthly for 20 years. The interest rate is 12% convertible monthly. What is the total interest paid? A. P 35,234.76 C. P 3,200,000 D. P 5,256,342.40 B. P 58,914.78 Learning Tasks:
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