Housing Loan Property Equity Loan

1 5.25% 6.25%

2 6.00% 7.00%

3 6.25% 7.25%

4 6.88% 7.88%

5 6.88% 7.88%

6-10 8.50% 9.50%

11-15 9.50% 10.50%

16-20 11.50% 12.50%

Bank A

What: Solve:

Interest- 6.88% -> 0.0688 3,000,000 x 0.0788 = 236,400

Condo Price: 3,000,000 pesos 3,000,000 x 0.0688 = 206,400

Years: 5 = 60 months 3,000,000 + 206,400 = 3,206,400

Equity = 7.88% -> 0.0788 3,206,400/ 60 = 53,440

53,440 pesos/ month

 Loan Tenor Fixed Rate of Interest

1 year 5.75%

2-3 years 6.50%

4-5 years 6.75%

10 years 8.50%

15 years 10.25%

20 years 10.75%

Bank B

What: Solve:

Interest- 6.75% -> 0.0675 3,000,000 x 0.0675 = 202,500

Condo Price: 3,000,000 pesos 3,000,000 + 202,500 = 3,202,500

Years: 5 = 60 months 3,202,500/ 60 = 53,375

53,375 pesos/ month

 Years Regular Housing Property Equity Loan
Loan
1 year 5.25% 6.25%

2-3 years 6.25% 7.25%

4-5 years 7% 8%

6-10 years 8% 9%

11- 15 years 9% 10%

Bank C

What: Solve:

Interest- 7% -> 0.07 3,000,000 x 0.08 = 240,000

Condo Price: 3,000,000 pesos 3,000,000 x 0.07 = 210,000

Years: 5 = 60 months 3,000,000 + 210,000 = 3,210,000

Equity = 8% -> 0.08 3,210,000/ 60 = 53,500

53,500 pesos/ month

 Conclusion:
We therefore conclude that based on the results of our
research and computations, Bank C has the highest interest
rate while Bank B has the lowest interest rate.
 Final Examination
in
General Mathematics

Submitted to: Mr. Bryan Cabuenas

Submitted by:

Housing Loan Group

Annatu, Carl Jalen C.

Badel, Raesa Angelika C.

Carandang, Jeraldine

De Belen, Joeres Shenne

De Leon, Carlos

Mondigo, Dwayne Austin

Roque, Chelsea

Sangil, Jade Samuel

Villanueva, Ruthiel
 Problem:
Xyrus is planning to buy a condominium. The unit’s average
price is P3,000,000, in which he wanted to pay it for 5
years. He decided to put it in a housing loan but is having a
hard time in choosing which bank has the highest interest
rate.