Mr. Raymundo wants to purchase a house and lot in Banton, Romblon for 1,500,000 php. Bank...

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Mr. Raymundo wants to purchase a house and lot in Banton, Romblon for 1,500,000 php. Bank of Aduas has approved his loan application for a 15-year fixed-rate loan at 10% annual interest. He makes a 20% down payment in this housing loan. How much is the amount of the interest paid for the first term of amortization? Mr. Raymundo wants to purchase a house and lot in Banton, Romblon for 1,500,000 php. Bank of Aduas has approved his loan application for a 15-year fixed-rate loan at 10% annual interest. He makes a 20% down payment in this housing loan. How much is the amount of the interest paid for the first term of amortization?

Answer rating: 100% (QA)

Answer Interest paid for first term of amortization is php 120000 Purchase pr... View the full answer