Computation: Slot B1-01 (Basement 1)
This computation details the payment plan for a parking slot located in Basement 1 of the Mantawi Residences project.
8W7G+44 Mandaue, Cebu, Philippines
- Gross Price: ₱1,200,000.00 – This is the total list price of the parking slot.
- Final Net Price: ₱1,200,000.00 – The final price remains the same as the gross price since there’s no discount.
- Reservation Fee: ₱50,000.00 – An initial payment of fifty thousand pesos is required to reserve the parking slot.
- Downpayment: 5.0% of the gross price (₱1,200,000.00) less the reservation fee, payable over 6 months.
- Total Downpayment: ₱10,000.00
- Monthly Downpayment: ₱1,666.67
- Monthly Amortizations: 15.00% of the gross price.
- Total Monthly Amortization: ₱180,000.00
- Step-Up Payments: These are increasing payments spread over specific periods:
- Step-Up 1: 2.00% of the gross price over 11 months
- Total Step-Up 1: ₱24,000.00
- Monthly Step-Up 1: ₱2,181.82
- Step-Up 2: 3.25% of the gross price over 17 months
- Total Step-Up 2: ₱39,000.00
- Monthly Step-Up 2: ₱2,294.12
- Step-Up 3: 3.50% of the gross price over 17 months
- Total Step-Up 3: ₱42,000.00
- Monthly Step-Up 3: ₱2,470.59
- Step-Up 4: 3.75% of the gross price over 17 months
- Total Step-Up 4: ₱45,000.00
- Monthly Step-Up 4: ₱2,647.06
- Step-Up 5: 2.50% of the gross price over 10 months
- Total Step-Up 5: ₱30,000.00
- Monthly Step-Up 5: ₱3,000.00
- Retention: 80.0% of the gross price, amounting to ₱960,000.00. This is likely the final payment due upon completion of the payment term.
- Closing Fees: 6.0% of the gross price, totaling ₱72,000.00. These fees cover the administrative and legal costs associated with the transfer of ownership.
In summary: This computation provides a clear breakdown of all costs and payment milestones for acquiring parking slot B1-01, including the reservation fee, downpayment, step-up payments, retention, and closing fees. All amounts are clearly stated, making it easy to understand the financial commitment.
