Question: 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

You save Php 4,500 semi-monthly to raise money for a 15% down

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

Step by Step Solution

★★★★★

3.33 Rating (153 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Given Savings semimonthly Php 4500 Down payment percentage 15 Duration of savings 4 23 years Financi... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

This unadjusted trial balance is for Challenger Construction at the end of its fiscal year, September 30, 2020. The beginning balance of the owner?s capital account was $46,000 and the owner invested...

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...

Could you elucidate the concept of socialization and delineate the intricate process through which individuals undergo personal development within the framework of societal influence and interaction?

Today is January 1, 2017. Nigel and Elizabeth Buckingham have come to you, a financial planner, for help in developing a plan to accomplish their financial goals. From your initial meeting together,...

PLEASE ANSWER 6-10 and QUESTION 12 . READ ALL PHOTOS POSTED AND TYPE ANSWER TO THE QUESTION PLEASE . NEED HELP ASAP PERSONAL INFORMATION Antonne and LaKeisha met when they were both students at Clark...

NEED HELP ASAP PLEASE ANSWER QUESTIONS 6-10 type answers or write clearly read all photos to understand PERSONAL INFORMATION Antonne and LaKeisha met when they were both students at Clark Atlanta...

PLEASE READ ALL PHOTOS POSTED TO ANSWER QUESTIONS 11 and 12 . PLEASE TYPE ANSWER AND WRITE EXACTLY WHAT THE QUESTION IS ASKING FOR PLEASE PERSONAL INFORMATION Antonne and LaKeisha met when they were...

My choices i picked were #13 Jaguar F-PACE $59,400, #31 personal trainer $63,000, #23 Texas $214,000. Pick a dream car (your answer should be between 1 and 46) (use these numbers in car and debt free...

(Questions from Lecture and Article) - Discussion Board Activity I need to read the following Lecture Note and the ?Wall Street Journal? articles that I uploaded, and writeanswers for theDiscussion...

Watch two televised newscasts of national news on the same day. One newscast is to come from a cable or satellite news network (examples being CNN, Headline, Fox News, CNBC, and MSNBC) and the other...

Example (2) Prove that tim ( . --

evaluate five measures introduced by the National Credit Act to prevent reckless lending, and discuss their effectiveness in promoting responsible credit practices in South Africa

Sanchez, Inc., is considering the sale of two bond issues. Choice A is a $1,200,000 bond issue that pays semiannual interest of $64,000 and is due in 20 years. Choice B is a $1,200,000 bond issue...

Determine from the tax table in Appendix A the amount of the income tax for each of the following taxpayers for 2016: Taxpayer(s) Allen Filing Status Single MFS MFJ H of H Single Taxable Income...

On March 1, 2014, Kissell Corporation began operations with a charter from the state that authorized 100,000 shares of $4 par value common stock. Over the next quarter, the company engaged in the...

International Inc. owns companies or the stock of companies in countries all over the world. International is reviewing its methods of accounting for those companies and has asked you to provide...

J. D. Michael Company has been very successful in recent years. Cash flow from operations is more than sufficient to cover the cost of all capital expenditures as well as regular cash dividends. J....

It is common to leave part of your training data as a holdout to test againstGroup of answer choicesTrueFalse

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.

1.12. Using a spreadsheet program (such as Microsoft Office Excel) orstatistical software, yourinstructor will help the class create a data file consisting of the values for class members of...

1.6. Go to the GSS Web site, sda.berkeley.edu/GSS/. By entering TVHOURS as the Row variable, find a summary ofresponses to the question, "On a typical day, about how many hours do you personally...

1.8. The Current Population Survey (CPS) is a monthly survey of households conducted by the U.S. Census Bureau. A CPS of 60,000 households indicated that of those households, 8.1% of the whites,...