What will be the amount of his monthly amortization? b. Construct an amortization schedule. Use a table similar to that found in our textbook. E What will be the outstanding balance of his loan at the end of 4 months from today? d. If Pedro failed to pay the 2nd and 3d monthly amortization, how much shall he the required single payment on the fifth . Supposed that he will still not be able pay the single total payment on the Fifth month as stated in question d. above, and assuming further that both parties agree that the outstanding obligations shall instead be paid in 7 equal monthly installments, at 15% compounded monthly, starting on the 9th month, what will the value of such monthly installment be? 2. You shall be graded as a group. Should any member of your group be required to recite with regard to this or any related question, the resulting grade received by that member shall also be the grade of the whole group. Group work means group success.
What will be the amount of his monthly amortization? b. Construct an amortization schedule. Use a table similar to that found in our textbook. E What will be the outstanding balance of his loan at the end of 4 months from today? d. If Pedro failed to pay the 2nd and 3d monthly amortization, how much shall he the required single payment on the fifth . Supposed that he will still not be able pay the single total payment on the Fifth month as stated in question d. above, and assuming further that both parties agree that the outstanding obligations shall instead be paid in 7 equal monthly installments, at 15% compounded monthly, starting on the 9th month, what will the value of such monthly installment be? 2. You shall be graded as a group. Should any member of your group be required to recite with regard to this or any related question, the resulting grade received by that member shall also be the grade of the whole group. Group work means group success.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
Transcribed Image Text:GROUP ASSIGNMENT NO.1
Dear 2CE Students,
A The Class Grouping consists of 5 (6 at most) Members per Group.
Using our official textbook as a guide, please study/review the following:
ANNUTIES (Including derivation of formulas)
AMORTIZATION
The illustrative examples found in our official textbook could easily be utilized in various applications and transactions:
1 As a group, please solve the following:
Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly.
To fulfil his obligation to repay the loan, Pedro agreed to start paying the six (6) equal monthly payments starting next month.
a What will be the amount of his monthly amortization?
b. Construct an amortization schedule. Use a table similar to that found in our textbook.
E What will be the outstanding balance of his loan at the end of 4 months from today?
d. If Pedro failed to pay the 2nd and 3d monthly amortization, how much shall he the required single payment on the fifth
month in order to fully pay his outstanding obligation?
e. Supposed that he will still not be able pay the single total payment on the Fifth month as stated in question d. above, and
assuming further that both parties agree that the outstanding obligations shall instead be paid in 7 equal monthly
installments, at 15% compounded monthly, starting on the 9th month, what will the value of such monthly installment be?
2. You shall be graded as a group. Should any member of your group be required to recite with regard to this or any
related question, the resulting grade received by that member shall also be the grade of the whole group. Group work means
group success.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
