A Php200000 loan was originally made at 8% simple interest for 4 years. At the end of this period, the loan was extended for 3 years, without the interest being paid, but the new interest rate was made 10% compounded annually. How much should the borrower pay at the end of 7 years?
A Php200000 loan was originally made at 8% simple interest for 4 years. At the end of this period, the loan was extended for 3 years, without the interest being paid, but the new interest rate was made 10% compounded annually. How much should the borrower pay at the end of 7 years?
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
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![5. A Php200000 loan was originally made at 8% simple interest
for 4 years. At the end of this period, the loan was extended
for 3 years, without the interest being paid, but the new
interest rate
was made 10% compounded annually. How much
should the borrower pay at the end of 7 years?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2c9f9f22-bccb-4679-988d-45aff6adb6ca%2F25e150c9-baa3-4b6c-a307-e00c3e19226d%2Fhpcfn6t_processed.png&w=3840&q=75)
Transcribed Image Text:5. A Php200000 loan was originally made at 8% simple interest
for 4 years. At the end of this period, the loan was extended
for 3 years, without the interest being paid, but the new
interest rate
was made 10% compounded annually. How much
should the borrower pay at the end of 7 years?
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