Answer the Situation below correctly show your complete solution. A loan of 30 000.00 Php is to be paid monthly for 5 years that will start at the end of 4 years . If converted monthly at 12 % , how much is the monthly payment ? a . The type of annuity illustrated in the problem is _________________. b. The total number of payments is ______.
Answer the Situation below correctly show your complete solution. A loan of 30 000.00 Php is to be paid monthly for 5 years that will start at the end of 4 years . If converted monthly at 12 % , how much is the monthly payment ? a . The type of annuity illustrated in the problem is _________________. b. The total number of payments is ______.
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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Answer the Situation below correctly show your complete solution.
A loan of 30 000.00 Php is to be paid monthly for 5 years that will start at the end of 4 years . If converted monthly at 12 % , how much is the monthly payment ?
a . The type of
b. The total number of payments is ______.
c . The number of conversion period in the period deferral is ___________________.
d. The interest rate per period is _________.
e . The
(I just need the Solution)
Answers: a. Deferred Annuity; b. 60; c. 47; d. 0.01; e. 30 000.00 Php
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