A young engineer borrowed P 20,000 at 12% interest and paid P2,000 per annum for the last 4 years. What does he have to pay at the end of the fifth year in order to pay off his loan? A. 24,541.1389 B. 23,948.3682 C. 23,532.8976 D. 24,576.0321

A young engineer borrowed P 20,000 at 12% interest and paid P2,000 per annum for the last 4 years. What does he have to pay at the end of the fifth year in order to pay off his loan? A. 24,541.1389 B. 23,948.3682 C. 23,532.8976 D. 24,576.0321

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A young engineer borrowed P 20,000 at 12% interest and paid P2,000 per annum for the last 4 years. What does he have to pay at the end of the fifth year in order to pay off his loan?

A. 24,541.1389

B. 23,948.3682

C. 23,532.8976

D. 24,576.0321

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