A man borrowed P2,000.00 from his brother on June 1, 1928 and P500.00 on June 1, 1930, agreeing that the money is worth 5% compounded annually. The man paid P500.00 on June 1, 1931, P400.00 on June 1, 1932 and P700.00 on June 1, 1933. What pay on June 1, 1936 to discharge all remaining liability?

A man borrowed P2,000.00 from his brother on June 1, 1928 and P500.00 on June 1, 1930, agreeing that the money is worth 5% compounded annually. The man paid P500.00 on June 1, 1931, P400.00 on June 1, 1932 and P700.00 on June 1, 1933. What pay on June 1, 1936 to discharge all remaining liability?

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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