Mark bought a house worth 50,000,000 pesos and is going to pay it monthly for the next 20 years. If the interest rate is 18% interest compounded monthly, how much is the outstanding balance after 10 years? 44,983,176.55 pesos remaining None of the above 42,825,701.88 pesos remaining 43,162,1466.77 pesos remaining

Mark bought a house worth 50,000,000 pesos and is going to pay it monthly for the next 20 years. If the interest rate is 18% interest compounded monthly, how much is the outstanding balance after 10 years? 44,983,176.55 pesos remaining None of the above 42,825,701.88 pesos remaining 43,162,1466.77 pesos remaining

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 11E

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