Suppose you are thinking of availing a loan of P100,000 at Pag-ibig Funds for house repairs after typhoon Jolina. Interest is pegged at 14% compounded quarterly, and you intend to make equal quarterly payments to pay-off this loan in three years. Set-up an amortization schedule (table) to serve as your guide in tracking the payments made, interest paid, principal repaid and outstanding principal for each period.
Suppose you are thinking of availing a loan of P100,000 at Pag-ibig Funds for house repairs after typhoon Jolina. Interest is pegged at 14% compounded quarterly, and you intend to make equal quarterly payments to pay-off this loan in three years. Set-up an amortization schedule (table) to serve as your guide in tracking the payments made, interest paid, principal repaid and outstanding principal for each period.
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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Suppose you are thinking of availing a loan of P100,000 at Pag-ibig Funds for house repairs after typhoon Jolina. Interest is pegged at 14% compounded quarterly, and you intend to make equal quarterly payments to pay-off this loan in three years. Set-up an amortization schedule (table) to serve as your guide in tracking the payments made, interest paid, principal repaid and outstanding principal for each period.
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