BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Down Payment = Php 480, 000Mortgage loan =Php 1, 920, 000
|
|
|
Down Payment = Php 580, 000Mortgage loan =Php 1, 220, 000
|
|
|
Down Payment = Php 460, 000Mortgage loan =Php 1, 720, 000
|
|
|
Down Payment = Php 680, 000Mortgage loan =Php 1, 420, 000
|
Detailed explanation-1: -What is Approximate time if the term of the loan is 1 year, 2 months and 3 days? 426 days.
Detailed explanation-2: -Down payment is calculated using the formula: down payment = down payment percent times purchase price. The down payment percent needs to be converted into a decimal for this calculation.
Detailed explanation-3: -A common example of a down payment is down payment on a house. The home buyer may pay 5% to 25% of the total price of the home upfront, while taking out a mortgage from a bank or other financial institution to cover the remainder. Down payments on car purchases work similarly.
Detailed explanation-4: -A down payment is a percentage of your home’s purchase price that you pay up front when you close your home loan. Lenders often look at the down payment amount as your investment in the home.