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Mr. Yuson obtained a 20-year mortgage for PhP 2,200,000. If his monthly payment is PhP 18,500, how much is the total interest?
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- Engr. Tongol borrowed money from a loan shark. He receives from the loan shark an amount of P 134,200 and promise to repay P 150,000 at the end of 1 year and 9 months. What is the simple interest rate?Michael Sanchez purchased a condominium for $97,000. He made a 20% down payment and financed the balance with a 30 year, 5% fixed-rate mortgage. (Round your answers to the nearest cent. Use this table, if necessary.) (a) What is the amount (in $) of the monthly principal and interest portion, PI, of Michael's loan?2. Mr. Sosa borrowed Php. 1,500,000 for the purchase of a car. If his monthly payment is Php.27,000 on a 5-year mortgage, find the total amount of interest.
- James received a 15 year loan of $230,000 to purchase a house. The interest rate on the loan was 2.10% compounded semi- annually. a. What is the size of the monthly loan payment? b. What is the balance of the loan at the end of year 2? Round to the nearest cent c. By how much will the amortization period shorten if James makes an extra payment of $30,000 at the end of year 2?Kenneth signed a fifteen-year 2.75% conventional mortgage for $385,600. What are his monthly PI payments? You must show the formulas with the values filled inAnna is buying a house selling for $235,000. To obtain the mortgage, Anna is required to make a 15% down payment. Anna obtains a 25-year mortgage with an interest rate of 5%. a) Determine the amount of the required down payment. b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest Number of Years Rate_% 10 15 20 25 303.0 $9.65067 $6.90582 $5.54598 $4.74211 $4.216043.5 9.88859 7.14883 5.79960 5.00624 4.490454.0 10.12451 7.39688 6.05980 5.27837 4.774154.5 10.36384 7.64993 6.32649 5.55832 5.066855.0 10.60655 7.90794 6.59956 5.84590 5.368225.5 10.85263 8.17083 6.87887 6.14087 5.677896.0 11.10205 8.43857 7.16431 6.44301 5.995516.5 11.35480 8.71107 7.45573 6.75207 6.320687.0 11.61085 8.98828 7.75299 7.06779 6.653027.5 11.87018 9.27012 8.05593 7.38991 6.992158.0 12.13276 9.55652 8.36440 7.71816 7.337658.5 12.39857 9.84740 8.67823 8.05227 7.689139.0 12.66758 10.14267 8.99726 8.39196 8.046239.5…
- Mr. Cruz obtained a 17-year mortgage for 2894112. If this monthly payment is 18325 how much is the total interest? Round off your answer in two decimal places.Tom Burke bought a home in Virginia for $160,000. He puts down 25% and obtains a mortgage for 30 years at 8%. What is Tom's (A) monthly payment, as well as (B) the total interest of the loan?Felix is purchasing a brownstone townhouse for $2,800,000. To obtain the mortgage, Felix is required to make a 17% down payment. Felix obtains a 25-year mortgage with an interest rate of 7.5%. LOADING... Click the icon to view the table of monthly payments. a) Determine the amount of the required down payment. b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest. Rate % 10 15 20 25 303.0 $9.65067 $6.90582 $5.54598 $4.74211 $4.216043.5 9.88859 7.14883 5.79960 5.00624 4.490454.0 10.12451 7.39688 6.05980 5.27837 4.774154.5 10.36384 7.64993 6.32649 5.55832 5.066855.0 10.60655 7.90794 6.59956 5.84590 5.368225.5 10.85263 8.17083 6.87887 6.14087 5.677896.0 11.10205 8.43857 7.16431 6.44301 5.995516.5 11.35480 8.71107 7.45573 6.75207 6.320687.0 11.61085 8.98828 7.75299 7.06779 6.653027.5 11.87018 9.27012 8.05593 7.38991 6.992158.0 12.13276 9.55652 8.36440 7.71816 7.337658.5 12.39857 9.84740 8.67823 8.05227 7.689139.0 12.66758…
- José borrowed 8100 at 5 1/2% for  three years compounded, semi am annually. What is the future value of the loan and how much interest will he pay on the loan?Freddy agreed to make quarterly payments of $781.25 for 4 years on a loan of $10,000. What simple interest rate is he paying?Kenneth signed a fifteen-year 2.75% conventional mortgage for $385,600. What are his monthly PI payments? You must show the formulas with the values filled in. Please round the answer.