wishes to discharge a loan of ₱ 50,000 borrowed from JB by means of periodic payments of ₱5,000. JB charges 4% interest effective per period. (payments are made at the end of each period) 1. How many regular payments of ₱5,000 should Ian make? 2. How much extra payment X should he make along with the last regular payment to completely discharge this loan? 3. How much payment Y should he make one period after the last regular payment to completely discharge this loan? 4. How much payment Z should he make on the exact time after the last regular payment has been made to completely discharge this loan?
Ian wishes to discharge a loan of ₱ 50,000 borrowed from JB by means of periodic payments of ₱5,000. JB charges 4% interest effective per period. (payments are made at the end of each period)
1. How many regular payments of ₱5,000 should Ian make?
2. How much extra payment X should he make along with the last regular payment to completely discharge this loan?
3. How much payment Y should he make one period after the last regular payment to completely discharge this loan?
4. How much payment Z should he make on the exact time after the last regular payment has been made to completely discharge this loan?
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4. How much payment Z should he make on the exact time after the last regular payment has been made to completely discharge this loan?
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