1 Normal No Spac... Heading 1 Heading 2 Paragraph Style ACTIVITIES: 1 - Choose the Best Deal Jesse has his eye on a used truck. Of the three options below, which do you think is the better deal if he borrows P500,000? Explain your answer. 1. 7 percent APR payable in two years 2. 5.5 percent APR payable in three years 3. 4.75 percent APR payable in four years. APR= Annual Percentage Rate 2 - What is the Average Payment? Figure out the average monthly payments for the same purchases shown in Task 2 using the amortization calculation formula. Amortization Calculation Formula: A = P r(1 + rin (1 + r)n - 1 A = payment amount P = initial principal (loan amount) r = interest rate per period (decimal) n = total number of payments or periods. Do your own amortization calculations using spreadsheet software to generate an amortization payment chart or use an online loan payment calculator. 3 - Secure a copy of any kind of loan application form from any financial establishments (may be downloaded from the internet). Discuss each part how they relate in assessment of the 5c's of credit. amazon 8