Ruby loaned 500,000 php in preparation for her daughter’s college education. The loan comes with 8% interest compounded quarterly, paid every quarter of the year, payable in 2 ½ years. Find a) the amount of periodic payment and b) outstanding balance after the fourth payment. Moreover, c) create an amortization table for this loan, and d) suppose Ruby earns 36,000 php monthly, in your opinion, is she capable of paying her debt? Franco borrowed 1,000,000 php from his father so that he may expand his business. His father agreed to loan him the amount if he makes equal annual payments with 7% interest compounded annually for 7 years. Determine the a) yearly payments Franco must make and b) the outstanding balance after the fourth payment. Furthermore, c) create an amortization table for this loan, and d) if Franco’s new business branch earns an average of ₱16,000 monthly, would you say that expanding was a wise decision?

Ruby loaned 500,000 php in preparation for her daughter’s college education. The loan comes with 8% interest compounded quarterly, paid every quarter of the year, payable in 2 ½ years. Find a) the...

Ruby loaned 500,000 php in preparation for her daughter’s college education. The loan comes with 8% interest compounded quarterly, paid every quarter of the year, payable in 2 ½ years. Find a) the amount of periodic payment and b) outstanding balance after the fourth payment. Moreover, c) create an amortization table for this loan, and d) suppose Ruby earns 36,000 php monthly, in your opinion, is she capable of paying her debt?

Franco borrowed 1,000,000 php from his father so that he may expand his business. His father agreed to loan him the amount if he makes equal annual payments with 7% interest compounded annually for 7 years. Determine the a) yearly payments Franco must make and b) the outstanding balance after the fourth payment. Furthermore, c) create an amortization table for this loan, and d) if Franco’s new business branch earns an average of ₱16,000 monthly, would you say that expanding was a wise decision?

Jun 01, 2022