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Civil Engineering
Company B has a P5M loan for a new security system it just bought. The annual payment is P444,000 and the interest rate is 8% per year for 30 years. Your company decides that it can afford to pay P500,000 per year. After how many payments (years) will the loan be paid off?

Company B has a P5M loan for a new security system it just bought. The annual payment is P444,000 and the interest rate is 8% per year for 30 years. Your company decides that it can afford to pay P500,000 per year. After how many payments (years) will the loan be paid off?

Structural Analysis
Structural Analysis
6th Edition
ISBN:9781337630931
Author:KASSIMALI, Aslam.
Publisher:KASSIMALI, Aslam.
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
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Company B has a P5M loan for a new security system it just bought. The annual payment is P444,000 and the interest rate is 8% per year for 30 years. Your company decides that it can afford to pay P500,000 per year. After how many payments (years) will the loan be paid off?

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