A 3,000,000 peso loan is to be amortized at 4.55% quarterly for 2 years. Solve for the value inside (3)

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 18P
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A 3,000,000 peso loan is to be amortized at 4.55% quarterly for 2
years. Solve for the value inside (3)
Period
0
1
2
3 +567
4
8
Periodic
Payment
(1)
1,906,363.20 pesos
O 1,905,767.70 pesos
1,907,989.30 pesos
1,906,686.60 pesos
Interest
Payment
(2)
21,688.56
(4)
13,160.04
Principal
Repayment
377,000.17
(5)
390,012.19
Outstanding
Balance
3,000,000.00
(3)
1,533,926.58
Transcribed Image Text:A 3,000,000 peso loan is to be amortized at 4.55% quarterly for 2 years. Solve for the value inside (3) Period 0 1 2 3 +567 4 8 Periodic Payment (1) 1,906,363.20 pesos O 1,905,767.70 pesos 1,907,989.30 pesos 1,906,686.60 pesos Interest Payment (2) 21,688.56 (4) 13,160.04 Principal Repayment 377,000.17 (5) 390,012.19 Outstanding Balance 3,000,000.00 (3) 1,533,926.58
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