If a condominium is purchased for Php 5,700,000.00 and the bank requires 30% down payment, how much is the mortgaged amount?

To find the mortgaged amount, we need to subtract the down payment from the total purchase price.

Here’s the process:

1. **Total Purchase Price**: Php 5,700,000.00
2. **Down Payment Percentage**: 30%

### Step 1: Calculate the down payment
Down Payment = 30% of Php 5,700,000  
\[ \text{Down Payment} = \frac{30}{100} \times 5,700,000 = 1,710,000 \]

### Step 2: Calculate the mortgaged amount
Mortgaged Amount = Total Purchase Price - Down Payment  
\[ \text{Mortgaged Amount} = 5,700,000 - 1,710,000 = 3,990,000 \]

### Conclusion:
The mortgaged amount is **Php 3,990,000.00**.

Would you like further details or have any questions?

Here are some related questions to expand your understanding:

1. What would the monthly mortgage payment be if the interest rate is 6% per year over 15 years?
2. How much would the total interest paid be over the life of a 15-year mortgage at 6% interest?
3. How does a down payment affect the overall interest paid on a mortgage?
4. What would the down payment be if the bank required a 20% down payment instead of 30%?
5. What other costs should be considered when purchasing a condominium (e.g., closing costs, insurance)?

**Tip**: A higher down payment reduces the amount you borrow, which can lead to lower monthly payments and less interest paid over the life of the loan.

Learn how to calculate the mortgaged amount for a condominium purchased at Php 5,700,000. This problem involves calculating a 30% down payment and subtracting it from the total purchase price, making it suitable for students in Grades 6-8.

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