Worksheet 8 – Amortization

1. Miss Dela Cruz purchased a townhouse with an P950,000 mortgage at 9% for 20 years.
Make an amortization table for the first 24 months.
Outstanding
Payment Principal Principal
Amount Paid Interest Paid
Number Repaid Balance
0 ₱ 950,000

1 ₱8550 ₱ 7125 ₱ 1425 ₱ 948575

2 ₱8550 ₱ 7114.31 ₱ 1435.69 ₱ 947139.31

3 ₱8550 ₱ 7103.54 ₱ 1446.46 ₱ 945692.85

4 ₱8550 ₱ 7092.70 ₱ 1457.3 ₱ 944235.55

5 ₱8550 ₱ 7081.77 ₱ 1468.23 ₱ 942767.32

6 ₱8550 ₱ 7070.75 ₱ 1479.25 ₱ 941288.32

7 ₱8550 ₱ 7059.66 ₱ 1490.34 ₱ 939797.98

8 ₱8550 ₱ 7048.48 ₱ 1501.52 ₱ 938296.46

9 ₱8550 ₱ 7037.22 ₱ 1512.78 ₱ 936783.68

10 ₱8550 ₱ 7025.88 ₱ 1524.12 ₱ 935259.56

11 ₱8550 ₱ 7014.45 ₱ 1535.55 ₱ 933724.01

12 ₱8550 ₱ 7002.93 ₱ 1547.07 ₱ 932176.94

13 ₱8550 ₱ 6991.33 ₱ 1558.67 ₱ 930618.27

14 ₱8550 ₱ 6979.64 ₱ 1570.36 ₱ 929047.91

15 ₱8550 ₱ 6967.86 ₱ 1582.14 ₱ 927465.77

16 ₱8550 ₱ 6955.99 ₱ 1594.01 ₱ 925871.76

17 ₱8550 ₱ 6944.04 ₱ 1605.96 ₱ 924265.8

18 ₱8550 ₱ 6931.99 ₱ 1618.01 ₱ 922647.79

19 ₱8550 ₱ 6919.86 ₱ 1630.14 ₱ 921017.65

20 ₱8550 ₱ 6907.63 ₱ 1642.37 ₱ 919375.28

21 ₱8550 ₱ 6895.31 ₱1654.69 ₱ 917720.59

22 ₱8550 ₱ 6882.90 ₱ 1667.10 ₱ 916053.49

23 ₱8550 ₱ 6870.40 ₱1679.60 ₱ 914373.89

24 ₱8550 ₱ 6857.80 ₱ 1692.20 ₱ 912681.69

Total ₱205,200.00 ₱ 167,881.44 ₱ 37318.56