Reference no: EM133180834
Question - Ada Church is a Sales Manager for a Lungmen Real Estate Corporation. She is paid P25,000.00 monthly salary. She also earns 4% commission and 1% override.
Q1. If she was able to sell a house and lot worth P2,350,000.00 paid with a down payment of 10%, APR of 4% and loan term of 3 years. How much would be her initial commission be if the first monthly amortization is also paid along with the down payment?
A. P11,897.73
B. P6,424.24
C. P13,874.23
D. P3,687.50
Q2. Based on question #1, how much is the monthly amortization?
A. P68,687.55
B. P62,443.23
C. P66,606.11
D. P111,855.75
Q3. Based on question #1, how much would be the principal amount of the mortgage loan?
A. P2,326,500.00
B. P1,880,000.00
C. P2,115,000.00
D. P2,256,000.00
Q4. Based on question #1, how much would be the down payment?
A. P94,000.00
B. P470,000.00
C. P23,500.00
D. P235,000.00
Q5. Based on question #1, how much would be Ada Church's gross earnings for the month if the people she manage was able to generate sales amounting to P743,345.00 and she was paid a transportation allowance worth P4,550.00?
A. P40,670.95
B. P48,881.18
C. P43,407.69
D. P50,857.68
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