# M1 DOWNPAYMENT, GROSS BALANCE AND CURRENT INCREASED BALANCE

## Quiz by rodney necesito

Philippines Curriculum: SHS Specialized Subjects (MELC)

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10 questions
• Q1

This payment represents a percentage of the full purchase price and is usually on a cash basis.

Current increase balance

Gross balance

Reservation Fee

Down payment

30s
• Q2

Edna pays Php 10 000 to the real estate agent to ensure that the house she wants to buy will not be offered for sale to the market, what do you call this Php 10000?

Down payment

Reservation Fee

Current increase balance

Gross balance

60s
• Q3

Andrew is closing his savings account with the amount of Php 18000. However, the bank told him that he can only withdraw Php 8 000 because the check deposited to his account yesterday amounting to Php 10 000 has not been cleared yet. What do you call this Php 8000 in his bank account?

Down payment

Gross balance

Current increase balance

Reservation Fee

60s
• Q4

Arman plans to buy a house and lot in Cavite, so he pays Php180 000 to the real estate agent as down payment for the property amounting to Php1 200 000. What is the percentage rate of down payment?

16%

17%

18%

15%

300s
• Q5

If a 20% down payment is required in buying a condominium unit amounting to Php 4 500 000, how much will the buyer pay for the down payment?

Php 900 000

Php 97 500

Php 90 000

Php 975 000

300s
• Q6

The credit card company set a minimum payment requirement of 10% of the total amount due monthly. If the client decided to pay only the minimum amount due, a 4.5% financing charge will be applied every billing period. If Gigi pays only the minimum payment requirement of her total bill amounting to Php 30 000 for the last 3 months, assuming that no additional transactions will be added,

What is her minimum required payment at the beginning of the month?

Php 13 500

Php 3 000

Php 14 000

Php 1 350

300s
• Q7

The credit card company set a minimum payment requirement of 10% of the total amount due monthly. If the client decided to pay only the minimum amount due, a 4.5% financing charge will be applied every billing period. If Gigi pays only the minimum payment requirement of her total bill amounting to Php 30 000 for the last 3 months, assuming that no additional transactions will be added,

What is the balance of Gigi’s account after deducting the minimum required payment at the beginning of the month?

Php 16 500

Php 16 000

Php 27 000

Php 28 650

300s
• Q8

The credit card company set a minimum payment requirement of 10% of the total amount due monthly. If the client decided to pay only the minimum amount due, a 4.5% financing charge will be applied every billing period. If Gigi pays only the minimum payment requirement of her total bill amounting to Php 30 000 for the last 3 months, assuming that no additional transactions will be added,

What is the current increased balance after paying the beginning minimum required payment?

Php 28 515

Php 28 415

Php 28 315

Php 28 215

300s
• Q9

The credit card company set a minimum payment requirement of 10% of the total amount due monthly. If the client decided to pay only the minimum amount due, a 4.5% financing charge will be applied every billing period. If Gigi pays only the minimum payment requirement of her total bill amounting to Php 30 000 for the last 3 months, assuming that no additional transactions will be added,

What is the next minimum payment requirement?

Php 2 821.50

Php 2 831.50

Php 2 851.50

Php 2 841.40

300s
• Q10

The credit card company set a minimum payment requirement of 10% of the total amount due monthly. If the client decided to pay only the minimum amount due, a 4.5% financing charge will be applied every billing period. If Gigi pays only the minimum payment requirement of her total bill amounting to Php 30 000 for the last 3 months, assuming that no additional transactions will be added,

10. What is the current increased balance after paying the next minimum required payment?

Php 26 536.21

Php 26 236.21

Php 26 336.21

Php 26 436.21

300s

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