d OMR 40000 fürniture at Homcenter.com. He made a down payment of OMR 4000. He decided to use Bank Muscat for his mortgage. They were offering 7.50% for 10-year mortgage. Amortization Table (Partial- Mortgage principal and interest per 1000) 150% 00% 50% 100% 9:00% 10 12 $15 10.86 9.51 8.18 11.11 9.76 11.36 10.02 8.72 11.62 11.88 10.56 12.14 12.40 11.11 9.85 11.39 10 16 10.29 10.83 9.56 8.44 8.99 9.28 17 20 7.56 7.84 7.17 8.12 8.40 8.69 8.99 8.37 9.29 8.68 9.59 9.00 6.88 7.46 7.76 8.06 Using above information you are required to calculate the following: (i) Find the monthly payment for Mr. Khalid OMR 475.20 OMR 39797.32 OMR 39775 OMR 35797.32 OMR 35775 (ii) Calculate the balance of payment (outstanding balance) at the end of 1stpayment
d OMR 40000 fürniture at Homcenter.com. He made a down payment of OMR 4000. He decided to use Bank Muscat for his mortgage. They were offering 7.50% for 10-year mortgage. Amortization Table (Partial- Mortgage principal and interest per 1000) 150% 00% 50% 100% 9:00% 10 12 $15 10.86 9.51 8.18 11.11 9.76 11.36 10.02 8.72 11.62 11.88 10.56 12.14 12.40 11.11 9.85 11.39 10 16 10.29 10.83 9.56 8.44 8.99 9.28 17 20 7.56 7.84 7.17 8.12 8.40 8.69 8.99 8.37 9.29 8.68 9.59 9.00 6.88 7.46 7.76 8.06 Using above information you are required to calculate the following: (i) Find the monthly payment for Mr. Khalid OMR 475.20 OMR 39797.32 OMR 39775 OMR 35797.32 OMR 35775 (ii) Calculate the balance of payment (outstanding balance) at the end of 1stpayment
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:HCH6Q1. Mr. Khalid bought a OMR 40000 furniture at Homcenter.com. He made a down payment of OMR 4000. He decided to
use Bank Muscat for his mortgage. They were offering 7.50% for 10-year mortgage.
at of
Amortization Table (Partial- Mortgage principal and interest per 1000)
estion
6,60%
7.00%
90%
7267
11.39
10 16
9.59
9.00
3.00%
10.86
9.51
8.18
10
11.11
9.76
8.44
11.36
10.02
8.72
11.62
11.88
12.14
12
$15
10.29
8.99
12.40
11.11
10.56
10.83
9.56
9.28
9.85
17
7.56
6.88
7.84
8.12
8.40
7.76
8.69
8.06
8.99
9.29
20
7.17
7.46
8.37
8.68
Using above information you are required to calculate the following:
(i) Find the monthly payment for Mr. Khalid
OMR 475.20
OMR 39797.32
OMR 39775
OMR 35797.32
OMR 35775
(ii) Calculate the balance of payment (outstanding balance) at the end of 1stpayment
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