solve for number 9. Assessment1. A money lent to an individual for a business purpose is calledC. CollateralA. Business LoanD. LoanB. Consumer Loan2. The assets used to secure the loan is calledC. collateralD. paymentA. assetB. loan3. A loan, secured by a collateral, that the borrower is obliged to pay at specifiedterms.C. collateralD. amortizationA., mortgageB. chattel mortgage4. A mortgage on a movable property.A. mortgageB. chattel mortgage5. Any remaining debt at a specified time.A. amortizationC. collateralD. amortizationC. balanceD. outstanding balanceB. mortgage6. A method of paying a loan (principal and interest) on installment basis,usually of equal amounts at regular intervals.C. balanceD. outstanding balanceA. amortizatione20g B. mortgage7. 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 550,387.33B. P 437, 452.18C. P 356,430D. P 286,907 ome8. If a car loan of P 680,000 requires a 18% down payment. How much is themortgage?A. P 122,400B. P 221,040C. P 383, 060D. P 557,600A consumer loan of P 200,000 is to repay in monthly installment for 1 year. How9.much is the monthly payment if money is worth 1-% converted monthly?A. P 16,802.39 og eldavom s no opspi C. P 100,814.36B. P 33,604.78D. P 201,628.7210. Mr. and Mrs. Banal purchased a house and lot worth P 4,000,000. They paid adown payment of P 800,000. They plan to amortize the loan of P 3,200,000 bypaying monthly for 20 years. The interest rate is 12% convertible monthly. Whatis the total interest paid?A. P 35,234.76C. P 3,200,000D. P 5,256,342.40B. P 58,914.78Learning Tasks:

9. A consumer loan of P 200,000 is to repay in monthly installment for 1 year. How much is the monthly payment if money is worth 1-% converted monthly? A. P 16,802.39 B. P 33,604.78 10. Mr, and Mrs. Banal purchased a house and lot worth C. P 100,814.36 D. P 201,628.72 00 000 Thoy naid a