Mortgage and Amortization
Quiz by rodney necesito
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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