A woman borrowed P3,000 to be paid after 1.5 years with interest at 12% compounded seminually and P5,000 to be paid after 3 years at 12% compounded monthly. What single payment must she pay after 3.5 years at an interest rate of 16% compounded quarterly to settle the two obligation?
A woman borrowed P3,000 to be paid after 1.5 years with interest at 12% compounded seminually and P5,000 to be paid after 3 years at 12% compounded monthly. What single payment must she pay after 3.5 years at an interest rate of 16% compounded quarterly to settle the two obligation?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 25E
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A woman borrowed P3,000 to be paid after 1.5 years with interest at 12% compounded seminually and P5,000 to be paid after 3 years at 12% compounded monthly. What single payment must she pay after 3.5 years at an interest rate of 16% compounded quarterly to settle the two obligation?
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