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An amount of P100,000 was borrowed and was to be repaid in ten installments at the end of every year thereafter with each payment P1,000 more than the preceding. If interest is 12% compounded annually, determine the total amount paid by the borrower. O P186,137.60 O P183,661.12 O P163,023.84 P179,080.64

An amount of P100,000 was borrowed and was to be repaid in ten installments at the end of every year thereafter with each payment P1,000 more than the preceding. If interest is 12% compounded annually, determine the total amount paid by the borrower. O P186,137.60 O P183,661.12 O P163,023.84 P179,080.64

Essentials Of Investments
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
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An amount of P100,000 was borrowed and was to be repaid in ten installments at the end of every year thereafter with each payment P1,000 more than the preceding. If interest is 12% compounded annually, determine the total amount paid by the borrower. O P186,137.60 O P183,661.12 P163,023.84 P179,080.64
Transcribed Image Text:An amount of P100,000 was borrowed and was to be repaid in ten installments at the end of every year thereafter with each payment P1,000 more than the preceding. If interest is 12% compounded annually, determine the total amount paid by the borrower. O P186,137.60 O P183,661.12 P163,023.84 P179,080.64
An amount of P100,000 was borrowed and was to be repaid in ten installments at the end of every year thereafter with each payment P1,000 more than the preceding. If interest is 12% compounded annually, determine the amount of first payment paid by the borrower. P12,000 O P11,342.26 P11,746.35 O P14,113.76
Transcribed Image Text:An amount of P100,000 was borrowed and was to be repaid in ten installments at the end of every year thereafter with each payment P1,000 more than the preceding. If interest is 12% compounded annually, determine the amount of first payment paid by the borrower. P12,000 O P11,342.26 P11,746.35 O P14,113.76
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