1. A loan of P12, 500 is to be repaid with equal quarterly payments for one year with an interest of 6% compounded quarterly. Find the quarterly payment and construct an amortization schedule.
1. A loan of P12, 500 is to be repaid with equal quarterly payments for one year with an interest of 6% compounded quarterly. Find the quarterly payment and construct an amortization schedule.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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1. A loan of P12, 500 is to be repaid with equal quarterly payments for one year with an interest of 6% compounded quarterly. Find the quarterly payment and construct an amortization schedule.
2. Semi-annual payments of P1, 350 each are used to repay a loan for 3 ½ years at 5% compounded semiannually. Find the amount of the loan and construct the first four rows of the amortization table.
3. An obligation of P35, 000 is to be repaid with equal monthly payments for 6 months with an interest of 15% compounded monthly. Find the monthly payment and construct an amortization schedule.
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