Business and Consumer Loans Quiz

Ms. Saya got a business loan worth Php 900, 000. She promised to pay the loan semi-annually in 3 years. The semi-annual payment is Php 183, 026.37 if money is worth 12% converted semi-annually. How much is the outstanding balance after the first payment?

A consumer loan worth Php 30, 000 is to be repaid in 12 months at 9% convertible monthly. How much is the monthly payment?

Mr. Tharn got a Php 700, 000 loan for the expansion of his business payable monthly in 4 years. How much is the monthly amortization if the rate is 12% compounded monthly?

__________do not usually require a guarantor.

If a house is sold for P1,700,000 and the bank requires 40% down payment, how much is the mortgage amount?
a.
b.
c.
d.

Which of the following does NOT illustrate a consumer loan?

For a purchase of a house and lot worth Php 3,800,000, the bank requires 20% down payment, find the mortgage amount?

A loan of Php 200, 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?

Tell which of the following illustrate a business or consumer loan.

Joan owns 6 computers on her computer shop. She decided to borrow some money from the bank to buy 10 more computers.

Tell which of the following illustrate a business or consumer loan.

Mr. Andres wants to renovate their 10-year old house. He wants to build a new room for their 13-year old daughter. He will borrow some money from the bank to finance this plan.

Tell which of the following illustrate a business or consumer loan.

Mr. and Mrs. Gregorio want to borrow money from the bank to finance the college education of their son

Tell which of the following illustrate a business or consumer loan.

An actress bought the condominium near her house. She got a loan worth P2,000,000 in a bank.

Tell which of the following illustrate a business or consumer loan.