Maria saved money for her dream house but she needed Php700,000 more to complete the deal. The banks offers the mortgage at an annual interest rate of 7.5%. If Maria will pay the her debt quarterly for 15 years, construct an amortization schedule to liquidate Maria’s loan.
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Maria saved money for her dream house but she needed Php700,000 more to complete the
deal. The banks offers the mortgage at an annual interest rate of 7.5%. If Maria will pay the
her debt quarterly for 15 years, construct an amortization schedule to liquidate Maria’s loan.
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- sky wants to purchase a new house that cost 1,440,000. The bank agrees to provide a loan to fixed interest rate of 5.88%. Compute her amortization when spread over a. 5 years b. 10 years. which loan term will she avail if she is recieving a salary of 20,000 per monthMartha has decided to gift her parents with a small business. She conducted some market research and settled on opening a general store for them to run. To facilitate this, she plans to get a loan of Ksh. 600,000 from a bank to be paid in four equal yearly installments. The loan attracts an interest rate of 8% per annum. Required: 1: What is the annual payment that Martha has to make every year? 2: Prepare the loan amortization schedule for Martha for the four years. 3: Assuming that Martha was required to make monthly payments for a period of 3 years what would be the monthly payment (annuity)?Sarah secured a bank loan of $190,000 for the purchase of a house. Themortage is the amortized through mothly paymetns for a term of 15 years, with an interst rate of 3%/year compunded monthly on the unpaid balance. She plans to sell her house in 10 years. How much will SArah still owe on her house at that time? (round your answer to the nearest cent)
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