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14. Mr. Reyes borrows P600,000 at 12% compounded annually. agreeing to repay the loan in 15 equal annual payments. How much of the original principal is still unpaid after he has made the 8th payment? Ans. P 402,040

14. Mr. Reyes borrows P600,000 at 12% compounded annually. agreeing to repay the loan in 15 equal annual payments. How much of the original principal is still unpaid after he has made the 8th payment? Ans. P 402,040

Essentials Of Investments
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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14 Mr. Reyes borrows P600,000 at 12% compounded annually. agreeing to repay the loan in 15 equal annual payments. How much of the original principal is still unpaid after he has made the 8th payment? Ans. P 402,040
Transcribed Image Text:14 Mr. Reyes borrows P600,000 at 12% compounded annually. agreeing to repay the loan in 15 equal annual payments. How much of the original principal is still unpaid after he has made the 8th payment? Ans. P 402,040
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