Mr. Tan borrowed money from a bank with an interest of 8% compounded monthly for 6 years. His monthly amortization is P16, 000. 9. What is the total number of payments of Mr. Tan after he paid the 6-year mortgage? A. P1, 152, 000 B. P1, 226, 000 C. P1, 248,000 D. P1, 300,000 10.How much is his outstanding balance after the 50th payment? A. P290, 144. 26 B. 303,234.16 C. P326, 394. 67 D. P393,464.46

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