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