Answered: Monthly payments of P800 each are used…

Monthly payments of P800 each are used to settle a loan for 8 months at 8% compounded monthly. Find the present value of the loan. O A. 6,564.78 В. 6,342.76 О с. 6,212,19 O D. 6,551.34

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

Monthly payments of P800 each are used to settle a loan for 8 months at 8% compounded
monthly. Find the present value of the loan.
A. 6,564.78
О в. 6,342.76
О с. 6,212,19
O D. 6,551.34

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