1. Mark was able to sell a vehicle whose suggested retail price is P1,118,000.

The
vehicle will be financed through a bank. The required down payment was P78,000
and the monthly installment payment for 6 years will be P22,494. The car dealer
gave a 5% commission rate.
a. 78,000/1,118,000 x 100 = 6.97 = 7%
b. 1,118,000 - 78,000 = P1,040,000
c. 1,040,000 x 9.29% x 6 = P579,696
d. 1,118,000 x 5% = 55,900
1,040,000 x 1% = 10,400
55,900 + 10,400 = P66,300

2. Kaye’s housing loan worth P810,000 for 5 years was approved by the bank with an
interest rate of 8% per annum. How much will be her monthly amortization?
810,000(8%/12) / 1 - (1 + 8%/12)^-12(5) = P16,423.88

3. Suppose your sales amounted to P140,950.

a. 50,000 x 3% = 1,500
50,000 x 6% = 3,000
40,950 x 10% = 4,095
1,500 + 3,000 + 4095 = P8,595
b. 15,000 + 140,950 x 12% = P31,914
c. 25,000 + 90,950 x 8% = P32,276

4. Karen receives a semi-monthly basic salary of P14,250 and a transportation

allowance of 925 and a rice allowance of 750 (NT). Her overtime pay for the pay
period amounted to P7,730.47.
a. 14,250 x 2 = 28,500 (monthly salary)
28,500 + 925 + 750 + 7,730.47 = 37,905.47
PhilHealth: 37,905.47 x 3% = P1,137.16
Pag-ibig: 37,905.47 x 2% = P758.11
SSS: P1,600
b. Witholding Tax (semi-monthly based):
P14,250 - P10,417 = 3833
3833 x 20% = P766.6
(monthly based): 2,500 + 4572.47 x 25% = P3,643.12
c. Gross Earning: P37,905.47
d. Net Earning: 37,905.47 - 1,137.16 - 758.11 - 1,600 - 3,643.12 = P30,767.08