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Worksheet On Amortization

The document provides information and questions about amortization tables and calculating mortgage payments. It includes sample amortization tables and questions about determining principal balances, interest paid, and monthly or annual payments for loans with different interest rates compounded at various time periods up to 35 years. References for amortization and interest calculations are also included.

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127 views2 pages

Worksheet On Amortization

The document provides information and questions about amortization tables and calculating mortgage payments. It includes sample amortization tables and questions about determining principal balances, interest paid, and monthly or annual payments for loans with different interest rates compounded at various time periods up to 35 years. References for amortization and interest calculations are also included.

Uploaded by

Kurt So
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Worksheet on Amortization

1. The amortization table below shows portion of payments on a mortgage.

Use the table above to answer the following:

a. the principal borrowed is ___________________.

b. the periodic payment is ____________________.

c. the total interest paid on the mortgage is ___________________.

d. the amount of interest paid in the first payment is _____________________.

e. the amount of outstanding balance after the fifth payment is ____________________.

2. Determine the monthly payment for each mortgage if the interest is compounded quarterly:

a. a loan of ₱40 000 at 4% p.a. for 10 years


b. a loan of ₱100 000 at 6% p.a. for 15 years
c. a loan of ₱1 000 000 at 10% p.a. for 25 years

3. A loan of ₱10 000 must be repaid with equal monthly payments for 2 years. If the money is worth 8%
p.a. compounded monthly, find the monthly payment and construct an amortization table.

4. A debt of ₱250 000 with interest at 8.5% payable annually is to be amortized by equal payments at the
end of each year for 6 years. Find the regular payment and construct the amortization table for the debt.

5. A loan is being rapid with quarterly installments of $1000 at the end of each quarter for five years at 12%
convertible quarterly. Find the amount of principal in the sixth installment.

6. A loan is being repaid with a series of payments at the end of each quarter for five years. If the amount of
principal in the third payment is $100, find the amount of principal in the last five payments. Interest is
at the rate of 10% convertible quarterly.

7. A loan of $10 000 is being repaid with 20 installments at the end of each year at 10% effective. What is
the amount of interest in the 11th installment?
8. A 35-year loan is to be repaid with equal installments at the end of each year. The amount of interest paid
in the 8th installment is $135. The amount of interest paid in the 22nd installment is $108. Calculate the
amount of the interest paid in the 29th installment.

References:
Kellison, Stephen G. The theory of interest. Boston: McGraw-Hill Irwin, 2009.
Oronce, Orlando A. General Mathematics. Manila: Rex Book Store, Inc, 2016.

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