If you are planning to apply for a personal loan and borrow PhP 30,000 and repay the principal and interest for an agreed length of time of 3 years, a. How much monthly payment is needed for each bank offer? b. How much interest would you pay for 3 years for each bank offer? c. Which is the best option for you among the given choices below if you are to pay monthly for 3 years? Justify your answer and apply what you have learned on simple and compound interest. Bank (Personal Loan) Monthly Interest Rate A 1.3% В 1.89% C 1.22% D 1.5% E 1.25%
If you are planning to apply for a personal loan and borrow PhP 30,000 and repay the principal and interest for an agreed length of time of 3 years, a. How much monthly payment is needed for each bank offer? b. How much interest would you pay for 3 years for each bank offer? c. Which is the best option for you among the given choices below if you are to pay monthly for 3 years? Justify your answer and apply what you have learned on simple and compound interest. Bank (Personal Loan) Monthly Interest Rate A 1.3% В 1.89% C 1.22% D 1.5% E 1.25%
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
Problem 1PS
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