QUESTION
Maritess plans to get a housing loan from the bank which offers an 8.5% fixed interest for 10 years. If her loan amounts to php 1,845,300,how much interest will she pay in a year?how much will be her total payment if she pays up the loan after 8 years?.
ANSWER
8.5 PERCENT OF 1,845,300 PESOS IS 156,850 PESOS AND 5 CENTAVOS
8.5 PERCENT OF 1,845,300 PESOS IS 156,850 PESOS AND 5 CENTAVOSTHEREFORE MARITESS WILL PAY 156,850 PESOS AND 5 CENTAVOS AFTER 8 YEARS
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