PROBLEM(engineering, accountancy, cpa, students etc.)

[m1clau]

Need ko po ng advice..

Car Loan po ito, secondhand. Price is P750,000
Nag.apply po ako sa isang financing agency. 1.3% per month
Downpayment ko po is 50%
Loan term is 3 years (36 months)
MONTHLY PAYMENT KO PO AY P15291

Ito po computation nila

750000 - 750000 x 0.5 = 375000

375000 x 0.013 = 4875

4875 x 36 = 175500

175500 + 375000 = 550500

550500 / 36 = 15291 pesos.

car loan calculator ng bdo is only P12k, subra laki po ng difference.
Pa.advice po. salamat

 

[bernice25]

Nung una nakakalito nga kasi mataas nga siya kung 1.3% lang yung rate

Interest = Principal * rate (monthly) * time (months)
I = 375000 * .013 (monthly) * 36 (months) -->> kaya siya multiplied sa 36 kasi monthly yung nakalagay na rate.
I = 175500 (eto yung dagdag/interest sa 375000 na loan mo)

Total debt = 375000 + 175500
Total debt = 550500 (monthly = 15291.67)

so yung talagang interest rate nyan is 46.8% ( .013 * 36 = 46.8) annually.


kung annual yung 1.3% na rate, ganito itsura..

I = 375000 * .013 (annually) * 3 (years)
I = 14625

Td = 14625 + 375000
Td = 389625 (monthly = 10822.92)

di po ko completely sure jan hahaha pero ganyan po yung pagkacompute ko.