Analyze the statement below and solve the problems. Complete the table. LIMIT erasures and write leglbly. Riza

Analyze the statement below and solve the problems. Complete the table. LIMIT erasures and write leglbly.

 

Transcribed Image Text:

Riza is a fruit vendor in Lipa Market; unfortunately she suffers from the economic crisis. Big percent of her investment from past years were liquidated. The only hope she has is her farm in Bicol, she decided to borrow money from the bank and use it as a proof the she is capable of paying her debts. The SNFSS bank conducted credit investigation, through their assessment they allowed Riza to owe money from their bank. They lend her 5 Million Peso with the rate of 25% of interest, payable for 5 years. The loan is paid at the rate 500,000 every December 31,2016 and June 30 until the full amount is paid. Prepare the amortization table. Problems: 1. If you were Riza, what are the dates of your payments? 2.How much will be your Principal payment? 3. How much will be your principal balance and remaining balance each transaction? 4. Calculate the amount of interest per transaction 5. How much will be your payments every December and June? Riza is a fruit vendor in Lipa Market; unfortunately she suffers from the economic crisis. Big percent of her investment from past years were liquidated. The only hope she has is her farm in Bicol, she decided to borrow money from the bank and use it as a proof the she is capable of paying her debts. The SNFSS bank conducted credit investigation, through their assessment they allowed Riza to owe money from their bank. They lend her 5 Million Peso with the rate of 25% of interest, payable for 5 years. The loan is paid at the rate 500,000 every December 31,2016 and June 30 until the full amount is paid. Prepare the amortization table. Problems: 1. If you were Riza, what are the dates of your payments? 2.How much will be your Principal payment? 3. How much will be your principal balance and remaining balance each transaction? 4. Calculate the amount of interest per transaction 5. How much will be your payments every December and June?

Answer rating: 100% (QA)

Based on the given information the loan amount that Riza received from the bank is 5 Million pesos with an interest rate of 25 per annum payable for 2 ... View the full answer