APPLICATIONA mortgage of P 80 000 is to be paid by annual payment over a period of 10 years. If the interestrate 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

Loan amount (PV) = P 80,000 Period (N) = 10 Years Interest rate (R) = 15.8%

Answered: APPLICATION A mortgage of P 80 000 is…

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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APPLICATION A mortgage of P 80 000 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