B. Solve the following problems completely.
1. A business loan of 800,000 is to be repaid in full after 2 years. What is the amount
to be paid if the effective rate of interest is 8%?
2. For the purchase of a farm worth P2,800,000, the bank requires 30% down
payment, find the mortgaged amount.
3. If a condominium is purchased for P1,700,000 and the bank requires 25% down
payment, how much is the mortgaged amount?
4. Mr. Sia got a P1,100,000 mortgage. If the monthly payment is P33,000 for five
years, how much is the total interest paid?
5. Mr. Yuson obtained a 20-year mortgage for P2,200,000. If his monthly payment is
P18,500, how much is the total interest?

Question

Answered

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Gonzalesjowel979go Gonzalesjowel979go · Answer 1

Answer:

64,000 PESOS

840,000 PESOS

425,000 PESOS

1,265,000 PESOS

2,570,000 PESOS

Step-by-step explanation:

8 PERCENT OF 800,000 PESOS IS 64,000 PESOS

30 PERCENT OF 2,800,000 PESOS IS 840,000 PESOS

25 PERCENT OF 1,700,000 PESOS IS 425,000 PESOS

1,100,000 PESOS + 33,000 PESOS × 5 YEARS

1,100,000 PESOS + 165,000 PESOS = 1,265,000 PESOS

2,200,000 PESOS + 18,500 PESOS × 20 YEARS

2,200,000 PESOS + 370,000 PESOS = 2,570,000 PESOS

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