The cost of the book is P1,000,000 which will amortized for 3 years monthly but he will start paying 8 months after the loan is given and must be finished at the end of 3 years. How much is the end of month amortization? Mr. Shark deposited P40000, P50000, and P70000 at year 1, 5, and 9 which is 10% effective. Replace this by an equivalent end of month amortization for 9 years.
The cost of the book is P1,000,000 which will amortized for 3 years monthly but he will start paying 8 months after the loan is given and must be finished at the end of 3 years. How much is the end of month amortization? Mr. Shark deposited P40000, P50000, and P70000 at year 1, 5, and 9 which is 10% effective. Replace this by an equivalent end of month amortization for 9 years.
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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A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
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The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
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Transcribed Image Text:The cost of the book is P1,000,000 which will
amortized for 3 years monthly but he will start
paying 8 months after the loan is given and must
be finished at the end of 3 years. How much is the
end of month amortization?
Mr. Shark deposited P40000, P50000, and
P70000 at year 1, 5, and 9 which is 10% effective.
Replace this by an equivalent end of month
amortization for 9 years.
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