A 3,000,000 peso loan is to be amortized at 4.55% quarterly for 2 years. Solve for the value inside (5) Period 0 1 23 45 6 7 8 Periodic Payment (1) 385,625.70 pesos O 372,760.02 pesos O 377,000.17 pesos 381,288.54 pesos Interest Payment (2) 21,688.56 (4) 13,160.04 Principal Repayment 377,000.17 (5) 390,012.19 Outstanding Balance 3,000,000.00 (3) 1,533,926.58
A 3,000,000 peso loan is to be amortized at 4.55% quarterly for 2 years. Solve for the value inside (5) Period 0 1 23 45 6 7 8 Periodic Payment (1) 385,625.70 pesos O 372,760.02 pesos O 377,000.17 pesos 381,288.54 pesos Interest Payment (2) 21,688.56 (4) 13,160.04 Principal Repayment 377,000.17 (5) 390,012.19 Outstanding Balance 3,000,000.00 (3) 1,533,926.58
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 18P
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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.
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![A 3,000,000 peso loan is to be amortized at 4.55% quarterly for 2
years. Solve for the value inside (5)
Period
0
1
2
3
4567
8
Periodic
Payment
(1)
385,625.70 pesos
372,760.02 pesos
377,000.17 pesos
381,288.54 pesos
Interest
Payment
(2)
21,688.56
(4)
13,160.04
Principal
Repayment
377,000.17
(5)
390,012.19
Outstanding
Balance
3,000,000.00
(3)
1,533,926.58](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fba812132-1a1a-44f4-8ba3-07770afdc35c%2Fe8845b5d-dccc-4fe8-8de0-02127f02c6ff%2F9i3zst_processed.png&w=3840&q=75)
Transcribed Image Text:A 3,000,000 peso loan is to be amortized at 4.55% quarterly for 2
years. Solve for the value inside (5)
Period
0
1
2
3
4567
8
Periodic
Payment
(1)
385,625.70 pesos
372,760.02 pesos
377,000.17 pesos
381,288.54 pesos
Interest
Payment
(2)
21,688.56
(4)
13,160.04
Principal
Repayment
377,000.17
(5)
390,012.19
Outstanding
Balance
3,000,000.00
(3)
1,533,926.58
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