Mathematics Finals

Performance Task

Submitted by:

Omaira Nasra Munder

Juliana Isabel Peligrino

Submitted to:

Ma’am Carla U. Anadia

Avery Brooklyn, a fresh graduate of Berkeley College in New York City,
graduated the course of Accountancy, just landed on a job as an Accountant
Associate on one of the biggest firms in New York, namely Deloitte Touché
Tohmatsu Limited, with a monthly salary of PHP 45,000. Avery lives at an
apartment, Frontier Murray Hill, near the firm where she works and it costs PHP
29,060.64 per month.

As Avery was walking down the streets of New York, she had the chance to pass
by Chevrolet. She thought of it as an easy way of transportation and it can help
her save money. She went inside and as she was looking for a car, she
surprisingly had her eyes on the new Chevrolet Sail. She was planning to buy the
car with an in-cash price of PHP 688,888. But she thought of how she is going to
pay because Chevrolet was far from where she is living and she didn’t have
enough money.

So Avery decided to loan the full amount in cash of Chevrolet Sail from the bank
since the bank was just close to where she is living.

The loan has two ways for her to pay:

1. The loan of PHP 688,888 is to be amortized regularly scheduled

installments for 24 months. The money is 5.22% compounded monthly.
2. The loan of PHP 688,888 is to be amortized regularly scheduled
installments for 36 months. The money is 5.22% compounded monthly.
 Outstanding Principal
Month at the beginning of n Interest Payment Repayment to
(N) (OP) (I) (R) Principal
(RP)
1 688,888 2,996.6628 30,290.3931 27,293.7303
2 661,594.2697 2,877.9351 27,412.4580
3 634,181.8117 2,758.6909 27,531.7022
4 606,650.1095 2,638.9280 27,651.4651
5 578,998.6444 2,518.6441 27,771.749
6 551,226.8954 2,397.8370 27,892.5561
7 523,334.3393 2,276.5043 28,013.8887
8 495,320.4506 2,154.6440 28,135.7491
9 467,184.7015 2,032.2535 28,258.1397
10 438,926.5619 1,909.3305 28,381.0626
11 410,545.4993 1,785.8729 28,504.5202
12 382,040.9791 1,661.8783 28,628.5148
13 353,412.4643 1,537.3442 28,753.0489
14 324,659.4154 1,412.2685 28,878.1246
15 295,781.2908 1,286.6486 29,003.7445
16 266,777.5463 1,160.4823 29,129.9108
17 237,647.6355 1,033.7672 29,256.6259
18 208,391.0096 906.5009 29,383.8922
19 179,007.1174 778.6810 29,511.7121
20 149,495.4053 650.3050 29,640.0881
21 119,855.3172 521.3706 29,769.0225
22 90,086.2947 391.8754 29,898.5177
23 60,187.7770 261.8168 30,028.5763
24 30,159.2007 131.1925 30,159.2006
25