STEM Strand

General Mathematics
La Salle Green Hills
SY 2018-2019

BUYING A NEW HOME

THROUGH A BANK LOAN
2st Quarter Performance Task

Joaquin Alonzo M. De Leon

Gabriel Antonio M. Gomez
Craddi T. Nachor
Lordricc Jeus N. Parungao
Robin Jacob L. Traballo

11-B

Submitted to:
Mrs. Alona A. Cabatit

1
 The Upgraded Townhouse is located at Mahogany Place 3 in Fort Bonifacio, Taguig. It has three
bedrooms and bathrooms. It features a balcony and a roof deck. It also has a two-car garage and a large
storage room with closets. Each floor has a floor area of 200 sqm, making it spacious enough for a family.
The house is well crafted with distinct Asian Contemporary design and fine color tunes to create a warm
look and a relaxing feel. It’s in an exclusive, pedestrian-friendly community highlighted by sprawling
landscaped parks, country club-style amenities, and hotel-inspired concierge service.

Mahogany Place 3 offers various amenities. A few of which are pools, parks, a basketball court,
saunas, game rooms, a mini-theaters, a gym, and a multi-function hall. The village offers a guarded grand
entrance gate with 24/7 security, ensuring the safety of its residents. It’s all tucked in the emerging city of
Taguig, strategically placed near malls such as Market! Market!, Bonifacio High Street, Greenbelt, and
Tiendesitas, hospitals such as St. Luke’s Hospital and Makati Medical Center, schools, and parks.

Getting around the place and to the landmarks, however, will be quite costly without a car as these
distances cannot be easily walked. But in the recent press release of the Department of Transportation, a
subway, passing the area, will be built to connect these landmarks, making transportation easier.

Website: https://www.lamudi.com.ph/3br-upgraded-townhouse-mahogany-place-3-sofia-616871-
21.html?fbclid=IwAR097lHI6EgY_4eOPmCWNLPTRh5mUXweAFP-c3yYBh30XPVIa2ViPdwEiu4#

PRICE: ₱ 16 500 000.00

2
Bank of the Philippine Islands (BPI)

Housing Loans

10 Years, Housing Loan = 9.50%

3
 SUMMARY OF FINANCIAL TRANSACTIONS (BPI)
Total Contact Price: ₱16 500 000.00 Annual Rate (r): 9.50% Quarterly Rate: 2.375% Years: 10 years
BREAKDOWN
Payment per
Quarters Starting Balance Principal Per Interest Per Ending Balance
Quarter
Period Period
1 ₱16 500 000.00 ₱643 536.33 ₱251 661.33 ₱391 875.00 ₱16 248 338.67
2 ₱16 248 338.67 ₱643 536.33 ₱257 638.28 ₱385 898.05 ₱15 990 700.39
3 ₱15 990 700.39 ₱643 536.33 ₱263 757.19 ₱379 779.14 ₱15 726 943.20
4 ₱15 726 943.20 ₱643 536.33 ₱270 021.42 ₱373 514.91 ₱15 456 921.78
5 ₱15 456 921.78 ₱643 536.33 ₱276 434.43 ₱367 101.90 ₱15 180 487.35
6 ₱15 180 487.35 ₱643 536.33 ₱282 999.75 ₱360 536.58 ₱14 897 487.60
7 ₱14 897 487.60 ₱643 536.33 ₱289 720.99 ₱353 815.34 ₱14 607 766.61
8 ₱14 607 766.61 ₱643 536.33 ₱296 601.87 ₱346 934.46 ₱14 311 164.74
9 ₱14 311 164.74 ₱643 536.33 ₱303 646.16 ₱339 890.17 ₱14 007 518.58
10 ₱14 007 518.58 ₱643 536.33 ₱310 857.76 ₱332 678.57 ₱13 696 660.82
11 ₱13 696 660.82 ₱643 536.33 ₱318 240.63 ₱325 295.70 ₱13 378 420.19
12 ₱13 378 420.19 ₱643 536.33 ₱325 798.85 ₱317 737.48 ₱13 052 621.34
13 ₱13 052 621.34 ₱643 536.33 ₱333 536.57 ₱309 999.76 ₱12 719 084.77
14 ₱12 719 084.77 ₱643 536.33 ₱341 458.06 ₱302 078.27 ₱12 377 626.71
15 ₱12 377 626.71 ₱643 536.33 ₱349 567.69 ₱293 968.64 ₱12 028 059.02
16 ₱12 028 059.02 ₱643 536.33 ₱357 869.92 ₱285 666.41 ₱11 670 189.10
17 ₱11 670 189.10 ₱643 536.33 ₱366 369.33 ₱277 167.00 ₱11 303 819.77
18 ₱11 303 819.77 ₱643 536.33 ₱375 070.61 ₱268 465.72 ₱10 928 749.16
19 ₱10 928 749.16 ₱643 536.33 ₱383 978.53 ₱259 557.80 ₱10 544 770.63
20 ₱10 544 770.63 ₱643 536.33 ₱393 098.02 ₱250 438.31 ₱10 151 672.61
21 ₱10 151 672.61 ₱643 536.33 ₱402 434.10 ₱241 102.23 ₱9 749 238.51
22 ₱9 749 238.51 ₱643 536.33 ₱411 991.91 ₱231 544.42 ₱9 337 246.60
23 ₱9 337 246.60 ₱643 536.33 ₱421 776.72 ₱221 759.61 ₱8 915 469.88
24 ₱8 915 469.88 ₱643 536.33 ₱431 793.92 ₱211 742.41 ₱8 483 675.96
25 ₱8 483 675.96 ₱643 536.33 ₱442 049.02 ₱201 487.31 ₱8 041 626.94
26 ₱8 041 626.94 ₱643 536.33 ₱452 547.69 ₱190 988.64 ₱7 589 079.25
27 ₱7 589 079.25 ₱643 536.33 ₱463 295.69 ₱180 240.64 ₱7 125 783.56
28 ₱7 125 783.56 ₱643 536.33 ₱474 298.97 ₱169 237.36 ₱6 651 484.59
29 ₱6 651 484.59 ₱643 536.33 ₱485 563.57 ₱157 972.76 ₱6 165 921.02
30 ₱6 165 921.02 ₱643 536.33 ₱497 095.70 ₱146 440.63 ₱5 668 825.32
31 ₱5 668 825.32 ₱643 536.33 ₱508 901.72 ₱134 634.61 ₱5 159 923.60
32 ₱5 159 923.60 ₱643 536.33 ₱520 988.14 ₱122 548.19 ₱4 638 935.46
33 ₱4 638 935.46 ₱643 536.33 ₱533 361.61 ₱110 174.72 ₱4 105 573.85
34 ₱4 105 573.85 ₱643 536.33 ₱546 028.95 ₱97 507.38 ₱3 559 544.90
35 ₱3 559 544.90 ₱643 536.33 ₱558 997.13 ₱84 539.20 ₱3 000 547.77
36 ₱3 000 547.77 ₱643 536.33 ₱572 273.32 ₱71 263.01 ₱2 428 274.45
37 ₱2 428 274.45 ₱643 536.33 ₱585 864.81 ₱57 671.52 ₱1 842 409.64
38 ₱1 842 409.64 ₱643 536.33 ₱599 779.10 ₱43 757.23 ₱1 242 630.54
39 ₱1 242 630.54 ₱643 536.33 ₱614 023.85 ₱29 512.48 ₱628 606.69
40 ₱628 606.69 ₱643 536.33 ₱628 606.92 ₱14 929.41 -₱0.23
TOTAL - ₱25 741 453.20 ₱16 500 000.23 ₱9 241 452.97 -

4
 EastWest Bank

Housing Loans

10 Years, Housing Loan = 9.25%

5
 SUMMARY OF FINANCIAL TRANSACTIONS (EastWest)
Total Contact Price: ₱16 500 000.00 Annual Rate (r): 9.25% Quarterly Rate: 2.3125% Years: 10 years
BREAKDOWN
Payment per
Quarters Starting Balance Principal Per Interest Per Ending Balance
Quarter
Period Period
1 ₱16 500 000.00 ₱636 712.44 ₱255 149.94 ₱381 562.50 ₱16 244 850.06
2 ₱16 244 850.06 ₱636 712.44 ₱261 050.28 ₱375 662.16 ₱15 983 799.78
3 ₱15 983 799.78 ₱636 712.44 ₱267 087.07 ₱369 625.37 ₱15 716 712.71
4 ₱15 716 712.71 ₱636 712.44 ₱273 263.45 ₱363 448.99 ₱15 443 449.26
5 ₱15 443 449.26 ₱636 712.44 ₱279 582.67 ₱357 129.77 ₱15 163 866.59
6 ₱15 163 866.59 ₱636 712.44 ₱286 048.02 ₱350 664.42 ₱14 877 818.57
7 ₱14 877 818.57 ₱636 712.44 ₱292 662.88 ₱344 049.56 ₱14 585 155.69
8 ₱14 585 155.69 ₱636 712.44 ₱299 430.71 ₱337 281.73 ₱14 285 724.98
9 ₱14 285 724.98 ₱636 712.44 ₱306 355.04 ₱330 357.40 ₱13 979 369.94
10 ₱13 979 369.94 ₱636 712.44 ₱313 439.51 ₱323 272.93 ₱13 665 930.43
11 ₱13 665 930.43 ₱636 712.44 ₱320 687.79 ₱316 024.65 ₱13 345 242.64
12 ₱13 345 242.64 ₱636 712.44 ₱328 103.70 ₱308 608.74 ₱13 017 138.94
13 ₱13 017 138.94 ₱636 712.44 ₱335 691.10 ₱301 021.34 ₱12 681 447.84
14 ₱12 681 447.84 ₱636 712.44 ₱343 453.95 ₱293 258.49 ₱12 337 993.89
15 ₱12 337 993.89 ₱636 712.44 ₱351 396.33 ₱285 316.11 ₱11 986 597.56
16 ₱11 986 597.56 ₱636 712.44 ₱359 522.37 ₱277 190.07 ₱11 627 075.19
17 ₱11 627 075.19 ₱636 712.44 ₱367 836.32 ₱268 876.12 ₱11 259 238.87
18 ₱11 259 238.87 ₱636 712.44 ₱376 342.54 ₱260 369.90 ₱10 882 896.33
19 ₱10 882 896.33 ₱636 712.44 ₱385 045.46 ₱251 666.98 ₱10 497 850.87
20 ₱10 497 850.87 ₱636 712.44 ₱393 949.63 ₱242 762.81 ₱10 103 901.24
21 ₱10 103 901.24 ₱636 712.44 ₱403 059.72 ₱233 652.72 ₱9 700 841.52
22 ₱9 700 841.52 ₱636 712.44 ₱412 380.47 ₱224 331.97 ₱9 288 461.05
23 ₱9 288 461.05 ₱636 712.44 ₱421 916.77 ₱214 795.67 ₱8 866 544.28
24 ₱8 866 544.28 ₱636 712.44 ₱431 673.60 ₱205 038.84 ₱8 434 870.68
25 ₱8 434 870.68 ₱636 712.44 ₱441 656.05 ₱195 056.39 ₱7 993 214.63
26 ₱7 993 214.63 ₱636 712.44 ₱451 869.35 ₱184 843.09 ₱7 541 345.28
27 ₱7 541 345.28 ₱636 712.44 ₱462 318.83 ₱174 393.61 ₱7 079 026.45
28 ₱7 079 026.45 ₱636 712.44 ₱473 009.95 ₱163 702.49 ₱6 606 016.50
29 ₱6 606 016.50 ₱636 712.44 ₱483 948.30 ₱152 764.14 ₱6 122 068.20
30 ₱6 122 068.20 ₱636 712.44 ₱495 139.61 ₱141 572.83 ₱5 626 928.59
31 ₱5 626 928.59 ₱636 712.44 ₱506 589.71 ₱130 122.73 ₱5 120 338.88
32 ₱5 120 338.88 ₱636 712.44 ₱518 304.60 ₱118 407.84 ₱4 602 034.28
33 ₱4 602 034.28 ₱636 712.44 ₱530 290.39 ₱106 422.05 ₱4 071 743.89
34 ₱4 071 743.89 ₱636 712.44 ₱542 553.36 ₱94 159.08 ₱3 529 190.53
35 ₱3 529 190.53 ₱636 712.44 ₱555 099.90 ₱81 612.54 ₱2 974 090.63
36 ₱2 974 090.63 ₱636 712.44 ₱567 936.59 ₱68 775.85 ₱2 406 154.04
37 ₱2 406 154.04 ₱636 712.44 ₱581 070.12 ₱55 642.32 ₱1 825 083.92
38 ₱1 825 083.92 ₱636 712.44 ₱594 507.37 ₱42 205.07 ₱1 230 576.55
39 ₱1 230 576.55 ₱636 712.44 ₱608 255.35 ₱28 457.09 ₱622 321.20
40 ₱622 321.20 ₱636 712.44 ₱622 321.26 ₱14 391.18 -₱0.06
TOTAL - ₱25 468 497.60 ₱16 500 000.06 ₱8 968 497.54 -

6
QUESTIONS

1. What is the total amount of interest earned from your transactions in each of the two banks?

The total interest earned in BPI is ₱9,241,452.97 while the total intrest earned in EastWest Bank is
₱8,968,497.54.

2. How much in total did you actually pay to the bank using ordinary annuity.

The total amount paid in ordinary annuity for BPI is ₱25,741,453.20 while in EastWest Bank it is
₱25,468,497.60.

3. What percent of the total price is the interest earned in each of the two banks?

The interest to be earned by BPI is 35.90% of the total price paid while interest to be earned by
EastWest is 35.21%. It can be computed by dividing the total interest per period by the total amount paid.

4. Which of the two banks will you choose in purchasing your house if you’re going to pay quarterly
for 10 years? 


EastWest Bank would be more ideal as it has a lower interest rate at 9.25% per year. That would help
pay off the loans for the house easier. Its interest is also cheaper than BPI with a big difference of
₱272 955.60.