A factory owner bought a Diesel Generator set for P10,000 and agreed to pay the dealer a uniform sum at the end of each year for 5 years at 8% interest compounded annually, so that the final payment will cancel the debt for principal and interest. what is the annual payment?
A factory owner bought a Diesel Generator set for P10,000 and agreed to pay the dealer a uniform sum at the end of each year for 5 years at 8% interest compounded annually, so that the final payment will cancel the debt for principal and interest. what is the annual payment?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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