Solution-Find the amortization payment

Find the amortization payment

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Reference no: EM133089521

I. Find the Amortization Payment.

Loan Payment	Payment Period	Terms of Loan	Nominal Rate	Present Value (Amount of Loan)
1.	every year	12 years	9%	300,000
2.	every 3 months	5 years	8%	55,000
3.	every month	1 3/4 years	18%	100,000
4.	every 6 months	8 years	6%	136,000
5.	every month	1.5 year	12%	8,500

II. Word Problems:

Cedric purchased a new fishing boat for P 130,000. He made a P 20,000 down payment, and financed the balance at his bank for 7 years. What amortization payments are required every 3 months, at 16% interest, to pay off the boat loan
Cameron manufacturing recently purchased a new computer system for P150, 000. What amortization payment is required each month, at 12% interest, to pay off his obligation in 8 years?

Reference no: EM133089521

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Find the amortization payment

Reference no: EM133089521

Reference no: EM133089521

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