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A mortgage of P 90 000 is to be paid by annual payment over a period of 10 years. If the interest rate is 15.8% effective. a) calculate the annual payment;   b) construct an amortization schedule;   c) find the total payment made;   d) find the total interest paid

A mortgage of P 90 000 is to be paid by annual payment over a period of 10 years. If the interest rate is 15.8% effective. a) calculate the annual payment;   b) construct an amortization schedule;   c) find the total payment made;   d) find the total interest paid

Essentials Of Investments
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
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  1. A mortgage of P 90 000 is to be paid by annual payment over a period of 10 years. If the interest rate is 15.8% effective.

a) calculate the annual payment;

 

b) construct an amortization schedule;

 

c) find the total payment made;

 

d) find the total interest paid

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