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
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1P
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