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WorksheetsMath Quiz#1- Lesson in Business and Consumer Loans
Total questions: 6
Worksheet time: 4mins
What do you call the assets which can be used to secure a loan.
Amortization
Annuity
Bond
Collateral
What do you call the borrower in a business loan or consumer loan secured by a collateral?
chattel
creditor
collateral
mortgagor
Shaynen borrowed P 1,200,000.00 for the purchase of his car. If his monthly payment is P 30,000.00 on a 5-year mortgage, what is the total amount of interest?
P600, 000.00
P620, 000.00
P650,000.00
P680, 000.00
If a car is sold for P 1, 100,000 and the bank requires 15% down payment, what is the amount of the mortgage?
P925, 000.00
P935, 000.00
P940, 000.00
P950, 000.00
A business loan of P 1,000,000 is to be repaid in full after 5 years. What is the amount to be paid if the effective rate of interest is 10%?
P 1, 255, 210
P 1, 424, 230
P 1, 610, 510
P 1, 7120, 230
A business loan of P 1,000,000 is to be repaid in full after 5 years. What is the amount to be paid if the effective rate of interest is 10%?
P 1, 255, 210
P 1, 424, 230
P 1, 610, 510
P 1, 7120, 230
