A debt of P56,000, with interest at 5% compounded monthly, will be discharged, interest included, by monthly payments of P500 for as long as necessary, Find: a. the number of regular payments; b. the outstanding principal after 4 years; c. the final or concluding payment.
A debt of P56,000, with interest at 5% compounded monthly, will be discharged, interest included, by monthly payments of P500 for as long as necessary, Find: a. the number of regular payments; b. the outstanding principal after 4 years; c. the final or concluding payment.
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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. A debt of P56,000, with interest at 5% compounded monthly, will be discharged, interest included, by monthly payments of P500 for as long as necessary, Find:
a. the number of regular payments;
b. the outstanding principal after 4 years;
c. the final or concluding payment.
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