Chef Ratatouille buys a new set of cutlery worth P 435,000 for his newly modelled eatery...

 

 

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Chef Ratatouille buys a new set of cutlery worth P 435,000 for his newly modelled eatery in CLA Hotel. He agrees to pay P75,000 as down payment and the balance including interest will be amortized by equal monthly payments for 3 years at 15% compounded monthly. Compute his balance (without interest) after his initial payment of P 75,000. What is the size of his monthly dues? How much is his outstanding principal after the 15" payment? How much principal has been repaid after the 20" payment? What part of the 30" monthly payment went to interest? Chef Ratatouille buys a new set of cutlery worth P 435,000 for his newly modelled eatery in CLA Hotel. He agrees to pay P75,000 as down payment and the balance including interest will be amortized by equal monthly payments for 3 years at 15% compounded monthly. Compute his balance (without interest) after his initial payment of P 75,000. What is the size of his monthly dues? How much is his outstanding principal after the 15" payment? How much principal has been repaid after the 20" payment? What part of the 30" monthly payment went to interest?

Answer rating: 100% (QA)

Lets work out the calculations step by step Given Total cost of cutlery P 435000 Down payment P 7500... View the full answer