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10 questions
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  • Q1

    The entity that borrows money is called ____________________________.

    Mortgagee

    Mortgage   

    Mortgage Deed

    Mortgagor

    60s
  • Q2

    Something that is pledged as security for repayment of a loan, to be forfeited in the event of a default.

    Interest

    Collateral 

    Down payment

    Loan

    60s
  • Q3

    The transfer of an interest in specific immovable property for the aim of securing the payment of money advanced as a loan, an existing or future debt is called__________________________.

    Mortgagee

    Mortgage

    Mortgage Deed

    Mortgagor

    60s
  • Q4

    There is an increasing demand for sardines; therefore the manufacturing firm applied for a loan for additional machinery and equipment to increase the number of their production. The financing company granted a loan for Php 400000 at 4.5%interest rate, payable in 5 years with a 15% down payment.

    How much is the down payment of the manufacturing firm?

    Php 50000    

     Php 60000

    Php 65000

    Php 55000

    300s
  • Q5

    There is an increasing demand for sardines; therefore the manufacturing firm applied for a loan for additional machinery and equipment to increase the number of their production. The financing company granted a loan for Php 400000 at 4.5%interest rate, payable in 5 years with a 15% down payment.

    How much is their initial amount of loan?

    Php 335000        

    Php 400000

    Php 330000 

     Php 340000

    300s
  • Q6

    There is an increasing demand for sardines; therefore the manufacturing firm applied for a loan for additional machinery and equipment to increase the number of their production. The financing company granted a loan for Php 400000 at 4.5%interest rate, payable in 5 years with a 15% down payment.

    How many months will they pay the loan?

    72

    60

    96

    120

    300s
  • Q7

    There is an increasing demand for sardines; therefore the manufacturing firm applied for a loan for additional machinery and equipment to increase the number of their production. The financing company granted a loan for Php 400000 at 4.5%interest rate, payable in 5 years with a 15% down payment.

    What is the monthly interest rate of the manufacturing firm?

    0.000375

    0.0000375

    0.0375 

    0.00375 

    300s
  • Q8

    There is an increasing demand for sardines; therefore the manufacturing firm applied for a loan for additional machinery and equipment to increase the number of their production. The financing company granted a loan for Php 400000 at 4.5% interest rate, payable in 5 years with a 15% down payment.

    How much is his monthly installment payment?

    Php 6038.63

    Php 6238.63

    Php 6338.63

    Php 6138.63 

    300s
  • Q9

    There is an increasing demand for sardines; therefore the manufacturing firm applied for a loan for additional machinery and equipment to increase the number of their production. The financing company granted a loan for Php 400000 at 4.5% interest rate, payable in 5 years with a 15% down payment.

    How much interest does the financing company charge on the first amortization of the loan?

    Php 1275

    Php 1375

    Php 1475

    Php 1175 

    300s
  • Q10

    There is an increasing demand for sardines; therefore the manufacturing firm applied for a loan for additional machinery and equipment to increase the number of their production. The financing company granted a loan for Php 400000 at 4.5% interest rate, payable in 5 years with a 15% down payment.

    How much goes to the principal on the first amortization of housing loan?

    Php 4663.63 

    Php 4863.63

    Php 4763.63 

    Php 5063.63

    300s

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