A couple secured a 4,000,000 php housing loan from a financing company that gives 12% interest compounded monthly. They plan to amortize the loan for 20 years with monthly regular payments. On their 100th payment, how much of this amount goes to the interest payment, and how much is apportiones to the repayment of the principal? a.) 27,376.78 php goes to interest and 16,666.66 php for the principal payment b.) 22,021.73 php goes to interest and 22,021.72 php for the principal payment c.) 33,106.68 php goes to interest and 10,936.76 php for the principal payment d.) 33,214.96 php goes to interest and 10,828.49 php for the principal payment
A couple secured a 4,000,000 php housing loan from a financing company that gives 12% interest compounded monthly. They plan to amortize the loan for 20 years with monthly regular payments. On their 100th payment, how much of this amount goes to the interest payment, and how much is apportiones to the repayment of the principal? a.) 27,376.78 php goes to interest and 16,666.66 php for the principal payment b.) 22,021.73 php goes to interest and 22,021.72 php for the principal payment c.) 33,106.68 php goes to interest and 10,936.76 php for the principal payment d.) 33,214.96 php goes to interest and 10,828.49 php for the principal 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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A couple secured a 4,000,000 php housing loan from a financing company that gives 12% interest compounded monthly. They plan to amortize the loan for 20 years with monthly regular payments. On their 100th payment, how much of this amount goes to the interest payment, and how much is apportiones to the repayment of the principal?
a.) 27,376.78 php goes to interest and 16,666.66 php for the principal payment
b.) 22,021.73 php goes to interest and 22,021.72 php for the principal payment
c.) 33,106.68 php goes to interest and 10,936.76 php for the principal payment
d.) 33,214.96 php goes to interest and 10,828.49 php for the principal payment
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