If after she has made 12th payment, how much is still unpaid of the original principal?

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
icon
Related questions
Question

Anna loaned P450,000 at 10% compounded annually. She signed a contract to repay the loan in 20 equal annual payments. If after she has made 12th payment, how much is still unpaid of the original principal?

a) P 360,150.15

b) P 257,329.19

c) P 281,987.30

d) P 343,308.34

Expert Solution
steps

Step by step

Solved in 5 steps with 2 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
EBK CFIN
EBK CFIN
Finance
ISBN:
9781337671743
Author:
BESLEY
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
Finance
ISBN:
9781285595047
Author:
Weil
Publisher:
Cengage