1. Ms. Nara had a P55,000 business loan that is to be paid in 8 months. If

interest rate is 12% compounded monthly, how much should be paid after 8

months?

2. A consumer loan of P80,000 is obtained that is due 3 months from now. If interest

rate is 8% compounded quarterly, how much should be paid?

3. For the purchase of an SUV worth P1,200,000, the bank requires a minimum

amount of 20% down payment, find the mortgaged amount.

4. For the purchase of a farm , the bank requires a 30% down payment . How much

is the mortgaged amount if the cash value of the farm is P3,500,000?

5. Suppose that a condominium unit is purchased for P2,800,000 and the bank

requires 30% down payment, how much is the mortgaged amount?

6. A house and lot has a cash value of P600,000. The bank offers a minimum

amount of 25% down payment. How much is the loan or the mortgaged amount?

7. A family obtained a P4,500,000 mortgage. If the monthly payment is P50,000 for

12 years, how much is the total interest paid?

8. For a purchase of a P700,000 car, the monthly amortization is P20,500 for 4

years. How much is the total interest?

Please, use basic terminologies as much as possible. I need your help!

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