Activity 2: PREREQUISITE SKILLS
Delos Reyes Family was able to buy a house and lot worth Php 2,500,000 which would be financed through bank. The required down payment was 20% of the unit price.

1. How much was the down payment paid by the buyer?
a. Php 40,000
b. Php 50,000
c. Php 400,000
d. Php 500,000

2. How much was the gross balance or the amount to be financed through PAG-IBIG?
a. Php 500,000
b. Php 1,000,000
c. Php 1,500,000
d. Php 2,000,000

3. How much is the current increased balance if the bank charges an interest rate of 15%?
a. Php 575,000
b. Php 1,150,000
c. Php 1,725,000
d. Php 2,300,000​