6. Amelia borrowed P1,200,000 for the purchase of a car. If his monthly payment
is P31,000 on a 5-year mortgage, find the total amount of interest.

a. 600,000
b. 660,000
c. 660,600
d. 666,600

7. A loan of P200,000 is to be repaid in full after 3 years. If the interest rate is 8%
per annum. How much should be paid after 3 years?

a. P521,942
b. P251,942
c. P215,492
d. P512,492

8. A car dealer offers a 15% down payment for the purchase a car. How much is
the mortgaged amount if the cash value of the car is P1,500,000?

a. P1,752,000
b. P1,572,000
c. P1,257,000
d. P1,275,000

9. If a condominium is purchased for P5,700,000 and the bank requires 30%
down payment, how much is the mortgaged amount?

a. P3,990,000
b. P3,099,000
c. P3,909,090
d. P3,990,090

10. A family obtained a P1,000,000 mortgage. If the monthly payment is P38,000
for four years, how much is the total interest paid?
a. P842,000
b. P842,200
c. P824,000
d. P842.200​