A loan of P12, 500 is to be repaid with equal quarterly payments for one year with an interest of 6% compounded quarterly. Find the quarterly payment and construct an amortization schedule.
A loan of P12, 500 is to be repaid with equal quarterly payments for one year with an interest of 6% compounded quarterly. Find the quarterly payment and construct an amortization schedule.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 41P
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1. A loan of P12, 500 is to be repaid with equal quarterly payments for one year with an interest of 6% compounded quarterly. Find the quarterly payment and construct an amortization schedule.
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