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9. A young engineer borrowed P 10,000 at 12% interest and paid P 2,000 per annum for the last 4 years. What does he have to pay at the end of the fifth year in order to pay off his loan? A.P 6,999.39 B. P 6,292.93 C.P 6,222.39 D. P 6,922.93

9. A young engineer borrowed P 10,000 at 12% interest and paid P 2,000 per annum for the last 4 years. What does he have to pay at the end of the fifth year in order to pay off his loan? A.P 6,999.39 B. P 6,292.93 C.P 6,222.39 D. P 6,922.93

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
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9. A young engineer borrowed P 10,000 at 12% interest and paid P 2,000 per annum for the last 4 years. What does he have to pay at the end of the fifth year in order to pay off his loan? A. P 6,999.39 B. P 6,292.93 C.P 6,222.39 D. P 6,922.93
Transcribed Image Text:9. A young engineer borrowed P 10,000 at 12% interest and paid P 2,000 per annum for the last 4 years. What does he have to pay at the end of the fifth year in order to pay off his loan? A. P 6,999.39 B. P 6,292.93 C.P 6,222.39 D. P 6,922.93
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