You save Php 4,500 semi-monthly to raise money for a 15% down payment of your condo....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
You save Php 4,500 semi-monthly to raise money for a 15% down payment of your condo. How much is the price of the dream house if you saved it in your piggy bank for 4 2/3 years to pay for the said down payment? Compute for the cost of financing if you plan to finance the remaining balance for 25yrs at 6 % %. Make a promissory note if this home loan of yours will be granted by PAG-IBIG only if its monthly amortization will not exceed Php15,500 and prepare for repayment schedule for the 1st 5 payments commencing June 2023. Will PAG-IBIG grant the loan? Explain. Real-Estate Amortization Table (Principal and Interest Per Thousand Pesos Borrowed) Terms in Years 10 15 20 25 30 11.35 8.71 7.46 6.75 6.32 % 11.48 8.85 7.60 6.91 6.49 7% 11.62 8.99 7.76 7.07 6.66 96 11.75 9.13 7.91 7.23 6.83 7/3/% 11.88 9.28 8.06 7.39 7.00 7-% 12.01 9.42 8.21 7.56 7.17 8% 12.14 9.56 8.37 7.72 7.34 12.27 9.71 8.53 7.89 7.52 12.40 9.85 8.68 8.06 7.69 9% 12.67 10.15 12.54 10.00 8.84 8.23 7.87 9.00 8.40 12.81 8.05 Terms in Years 10 10.30 9.16 8.57 248 8.23 15 20 25 30 You save Php 4,500 semi-monthly to raise money for a 15% down payment of your condo. How much is the price of the dream house if you saved it in your piggy bank for 4 2/3 years to pay for the said down payment? Compute for the cost of financing if you plan to finance the remaining balance for 25yrs at 6 % %. Make a promissory note if this home loan of yours will be granted by PAG-IBIG only if its monthly amortization will not exceed Php15,500 and prepare for repayment schedule for the 1st 5 payments commencing June 2023. Will PAG-IBIG grant the loan? Explain. Real-Estate Amortization Table (Principal and Interest Per Thousand Pesos Borrowed) Terms in Years 10 15 20 25 30 11.35 8.71 7.46 6.75 6.32 % 11.48 8.85 7.60 6.91 6.49 7% 11.62 8.99 7.76 7.07 6.66 96 11.75 9.13 7.91 7.23 6.83 7/3/% 11.88 9.28 8.06 7.39 7.00 7-% 12.01 9.42 8.21 7.56 7.17 8% 12.14 9.56 8.37 7.72 7.34 12.27 9.71 8.53 7.89 7.52 12.40 9.85 8.68 8.06 7.69 9% 12.67 10.15 12.54 10.00 8.84 8.23 7.87 9.00 8.40 12.81 8.05 Terms in Years 10 10.30 9.16 8.57 248 8.23 15 20 25 30
Expert Answer:
Answer rating: 100% (QA)
Given Savings semimonthly Php 4500 Down payment percentage 15 Duration of savings 4 23 years Financi... View the full answer
Related Book For
Posted Date:
Students also viewed these finance questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
A researcher wanted to find out if there was difference between older movie goers and younger movie goers with respect to their estimates of a successful actors income. The researcher first...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
-
10. A light cord is wrapped around a wheel, R = 0.10 m and rotational inertia I about its axis and is attached to mass, m = 2 kg, see about its fixed axis and the object accelerates downward, (take g...
-
1. The z component of the spin of an electron is h, but the magnitude of the spin vector is 0.75h. What is the angle between the electrons spin angular momentum vector and the z axis? 2. A particle...
-
How are average unit costs computed when no inventories are present?
-
The contingency table shown relates happiness and gender for the 2018 GSS. (You can enter the counts from the table in the second tab of the Explore Categorical Variables app to answer most of the...
-
Equipment acquired on January 8, 2011, at a cost of $420,000, has an estimated useful life of 15 years, has an estimated residual value of $30,000, and is depreciated by the straight-line method. a....
-
Cherokee Incorporated is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit...
-
Pistol Corporation acquired 70 percent of Scope Corporations voting stock on May 18, 20X1. The companies reported the following data with respect to intercompany sales in 20X4 and 20X5: Pistol...
-
In the following figure, AODC x AOBA, BOC = 125 and < CDO = 70. Find < DOC, Z DCO and OAB
-
What is the appropriate accounting treatment (under successful efforts) for an individually insignificant unproved property that is surrendered? a. The net carrying value of the property is written...
-
Carved-out volumetric production payments payable out of specific reserves in place, but where there is no obligation for the producer to make up any inadequate production, are to be accounted for as...
-
What companies are required to present the disclosures specified by ASU 932-235-50?
-
A well was drilled offshore that discovered proved reserves. The well was classified as an exploratory-type stratigraphic test well. After proving the well, it was decided that additional drilling...
-
Which costs are to be included in the disclosure of results of operations of oil and gas producing activities?
-
A particle of mass m is moving in a circular path of constant radius r such that its centripetal acceleration ac is varying with time t as ac = k 2 rt 2 where k is a constant. The power delivered to...
-
A test car is driven a fixed distance of n miles along a straight highway. (Here n Z+.) The car travels at one mile per hour for the first mile, two miles per hour for the second mile, four miles...
-
1. Identify the primary goals of monetary asset management. 2. Explain the circumstances when it would be appropriate to have funds in a checking account, a saving account, or in investments. 3....
-
1. Summarize how the discounted cash-flow method helps determine the right price to pay for a real estate investment. 2. Comment on the wisdom of buying a timeshare as an investment. 3. List three...
-
1. Summarize the phases of the business cycle. 2. Describe two statistics that help predict the future direction of the economy. 3. Give an example of how inflation affects income and consumption.
-
What is the glass ceiling?
-
1. Whole Foods is a natural and organic foods retailer started by John Mackey and Renee Lawson in 1978. The company is headquartered in Austin, Texas. Today it operates 456 stores in the United...
-
This stagecoach likely makes a stop near you. Wells Fargo \& Company owns Wells Fargo Bank, which is one of the largest banks in the US with more than 8,800 bank branches in 40-plus states. Community...
Study smarter with the SolutionInn App