A man borrowed P12,000 and agreed to repay it with P4,650.70 interest. If the interest is 6% compounded quarterly, what is the term of the loan? O 22 years О 5.5 years О 15.92 уears O 6.37 years
A man borrowed P12,000 and agreed to repay it with P4,650.70 interest. If the interest is 6% compounded quarterly, what is the term of the loan? O 22 years О 5.5 years О 15.92 уears O 6.37 years
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
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![A man borrowed P12,000 and agreed to repay it with P4,650.70 interest. If the
interest is 6% compounded quarterly, what is the term of the loan?
O 22 years
5.5 years
O 15.92 years
O 6.37 years](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb16bd65e-a1a7-4aff-bff8-1078d34347af%2Ff92e71bc-5446-40b4-8db0-2ac994944285%2F5msh9v6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A man borrowed P12,000 and agreed to repay it with P4,650.70 interest. If the
interest is 6% compounded quarterly, what is the term of the loan?
O 22 years
5.5 years
O 15.92 years
O 6.37 years
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