Business & Consumer Loans Quiz

Money lent specifically for a business purpose.

• Stock

• Business Loan

• Consumer Loan

• Bond

Money lent to an individual for personal or family purpose.

• Consumer Loan

• Business Loan

• Stock Index

• Par Value

It is a method of paying a loan (principal and interest) on installment basis, usually of equal amounts at regular intervals.

• Mortgage

• Amortization

• Loan

• Bond

It is a business or consumer loan, secured by a collateral, that the borrower is obliged to pay at specified terms.

• Mortgage

• Amortization

• Loan

• Bond

These are the assets used to secure the loan. It may be real-estate or other investments.

• Mortgage

• Amortization

• Loan

• Collateral

An arrangement in which a lender gives money (principal) to a borrower in exchange for the future repayment of the principal along with interest or other finance charges.

• Loan

• Commission

• Stock

• Bond

Mr. Sanchez borrowed a loan of ₱500,000.00 to be paid in full after 3 years with an interest rate of 12% per annum. What is its interest rate in decimal form?

• 5000

• 12%

• 0.12%

• 0.12

A student loan of ₱50,000.00 was applied by Juliana to support her final year in college payable in 5 consecutive years after her graduation. In how many months will she need to pay fully her student loan?

• 12 months

• 24 months

• 36 months

• 60 months

A ₱20,000,000.00 worth of beach resort was bought by Mr. Javier through DCCCO. However, the cooperative demands a 20% down payment. How much is the mortgaged amount?

• ₱400,000.00

• ₱4,000,000.00

• ₱800,000.00

• ₱16,000,000.00

Mr. Alvarez borrowed from a bank to purchase a farm lot worth ₱1,800,000.00. If he has to pay ₱20,000.00 monthly for 9 years, how much will he pay for the total interest?

• ₱320,000.00

• ₱340,000.00

• ₱360,000.00

• ₱380,000.00