A loan of P40,000.00, with interest at 6% payable semiannually is to be amortized by equal payments at the end of each six months for five years. How much is the periodic payment? Select one: O a. P4,324.37 b. No answer c. P4,689.22 O d. P4,256.76 e. P4,289.65

A loan of P40,000.00, with interest at 6% payable semiannually is to be amortized by equal payments at the end of each six months for five years. How much is the periodic payment? Select one: O a. P4,324.37 b. No answer c. P4,689.22 O d. P4,256.76 e. P4,289.65

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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Question

A loan of P40,000.00, with interest at 6% payable semiannually is to be amortized by equal payments at the end of each six
months for five years. How much is the periodic payment?
Select one:
O a. P4,324.37
O b. No answer
c. P4,689.22
O d. P4,256.76
e. P4,289.65

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