A loan of X pesos will be paid in 48 equal monthly payments, starting 6 months from the release of the loan. The required monthly payment is P5,782. The interest rate is 18 percent compounded monthly. What is the value of X?   A. P160,000   B. P180,000   C. P240,000   D. P360,000

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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A loan of X pesos will be paid in 48 equal monthly payments, starting 6 months from the release of the loan.

The required monthly payment is P5,782. The interest rate is 18 percent compounded monthly. What is the value of X?

 

A. P160,000

 

B. P180,000

 

C. P240,000

 

D. P360,000

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