Answered: Ken borrowed PHP 1,000 from…

Ken borrowed PHP 1,000 from Coco-me-Loan and promises to pay this with level monthly amortization payments for 10 months at interest rate i per month. You are given the partial table below.

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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Question

How much is the Principal repaid during the 4th month?

Ken borrowed PHP 1,000 from Coco-me-Loan and promises
to pay this with level monthly amortization payments for 10
months at interest rate i per month. You are given the partial
table below.
t
0
1
:
3
4
:
10
It
P 37.47
Pt
Bt
P 1,000.00
P 749.36
P 657.33
-

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