For numbers 7 - 10:
Mr. and Mrs. Banal purchased a house and lot worth P4,000,000. They pa
payment of P800, 000. They plan to amortize the loan of P3. 200,000
monthly for 20 years. The interest rate is 12% convertible monthly.
A. P 5,319.98
C. P 35,234.76
B. P 29,914.78
D. P 5,256,342.40
7. How much is the monthly payment?
8. What is the total interest paid?
9. What is the principal and interest components of the 51st paym
10. What is the interest components of the 51st payment?
