Suppose you are a regular employee in a finance company that offers a loan payable through salary deduction. One of its privileges is availing a loan that offers a 5% interest compounded annually for 1 to 5 years. You are thinking to apply for a loan but you wanted to analyze if you can shoulder the monthly payment. Make a loan schedule and fill up an application form that will help you decide the amount of loan that you will make
Suppose you are a regular employee in a finance company that offers a loan payable through salary deduction. One of its privileges is availing a loan that offers a 5% interest compounded annually for 1 to 5 years. You are thinking to apply for a loan but you wanted to analyze if you can shoulder the monthly payment. Make a loan schedule and fill up an application form that will help you decide the amount of loan that you will make
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Suppose you are a regular employee in a finance company that offers a loan
payable through salary deduction. One of its privileges is availing a loan that offers
a 5% interest compounded annually for 1 to 5 years. You are thinking to apply for a
loan but you wanted to analyze if you can shoulder the monthly payment. Make a
loan schedule and fill up an application form that will help you decide the amount of
loan that you will make
Loan Schedule
Loan Amount
Maturity Value
Monthly
Payment
t=1
t=2
t=3
t=4
t=5
P10,000
P20,000
P30,000
P40,000
P50,000
P100,000
P150,000
P200,000
P250,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F25670115-f051-4f7a-87a0-666147d8053b%2F3d20b83b-c50b-4cca-8361-c3a53e4226f9%2Fkkmo3pq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose you are a regular employee in a finance company that offers a loan
payable through salary deduction. One of its privileges is availing a loan that offers
a 5% interest compounded annually for 1 to 5 years. You are thinking to apply for a
loan but you wanted to analyze if you can shoulder the monthly payment. Make a
loan schedule and fill up an application form that will help you decide the amount of
loan that you will make
Loan Schedule
Loan Amount
Maturity Value
Monthly
Payment
t=1
t=2
t=3
t=4
t=5
P10,000
P20,000
P30,000
P40,000
P50,000
P100,000
P150,000
P200,000
P250,000
![Loan Application Form
Name:
Age:
Date of Birth: ,
Occupation:
Monthly Income:
Sources of Funds:
Loan Amount:
Other Sources of Funds:
Monthly Payment of Loan:
Please answer the following questions truthfully:
1. Do you have an existing loans from other banks?
2. What is the purpose of the loan?
3. Can your salary cover the monthly payment of the loan? If not
do you have other resources to pay the monthly payment?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F25670115-f051-4f7a-87a0-666147d8053b%2F3d20b83b-c50b-4cca-8361-c3a53e4226f9%2F60inajr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Loan Application Form
Name:
Age:
Date of Birth: ,
Occupation:
Monthly Income:
Sources of Funds:
Loan Amount:
Other Sources of Funds:
Monthly Payment of Loan:
Please answer the following questions truthfully:
1. Do you have an existing loans from other banks?
2. What is the purpose of the loan?
3. Can your salary cover the monthly payment of the loan? If not
do you have other resources to pay the monthly payment?
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