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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A: Loan amortization refers to a schedule which is prepared to shows the periodic loan payments, amount…

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A: Laon amortization schedule means where repayment during the life of loan is written with interest.

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A: Amortization refers to the spread of payment over a certain time duration. An amortization schedule…

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A: Loan amortization can be defined as the procedure of amortizing the loan in such a way that the loan…

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A: Annuity:   An annuity is the series of payments which is received or paid for a fixed period of…

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A: The series of cash flows given here is a form of annuity with growth. However, the growth rate here…

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A: Monthly payment refers to an amount that is paid every month for the repayment of loan amount…

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A: An amortized loan is one that has planned, monthly payments that are applied to both the interest…

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A: Compound interest is used in case of lump-sum money accumulates in the future if interest is charged…