Reference no: EM133177767

Question - Analyze the statement below and solve the problems. Complete the table. LIMIT erasures and write leglbly.

Riza is a fruit vendor in Lipa Market; unfortunately she suffers from the economic crisis. Big percent of her investment from past years were liquidated. The only hope she has is her farm in Bicol, she decided to borrow money from the bank and use it as a proof the she is capable of paying her debts. The SNFSS bank conducted credit investigation, through their assessment they allowed Rize to owe money from their bank. They lend her 5 Million Peso with the rate of 2516 of interest, payable for 5 years. The loan is paid at the rate 500,000 every December 31,2016 and June 30 until the full amount is paid. Prepare the amortization table.

Required -

1. If you were Riza, what are the dates of your payments?

2. How much will be your Principal payment?

3. How much will be your principal balance and remaining balance each transaction?

4. Calculate the amount of interest per transaction.

5. How much will be your payments every December and June?