Mr. Tan borrowed money from a bank with an interest of 8% compounded monthly for 6 years. His monthly amortization is P16, 000. 6. What is the total interest rate per conversion period? A. 0.004 B. 0.005 C. 0.006 D. 0.008 7. What is the total number of periods of time to fully paid the loan? A. 60 B. 66 C. 72 D. 80 8. After 50th payment, what is the total number of payments remain? A. 22 B. 30 C. 40 D. 120
Mr. Tan borrowed money from a bank with an interest of 8% compounded monthly for 6 years. His monthly amortization is P16, 000. 6. What is the total interest rate per conversion period? A. 0.004 B. 0.005 C. 0.006 D. 0.008 7. What is the total number of periods of time to fully paid the loan? A. 60 B. 66 C. 72 D. 80 8. After 50th payment, what is the total number of payments remain? A. 22 B. 30 C. 40 D. 120
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
Mr. Tan borrowed money from a bank with an interest of 8%
compounded monthly for 6 years. His monthly amortization is P16, 000.
6. What is the total interest rate per conversion period?
A. 0.004
B. 0.005
C. 0.006
D. 0.008
7. What is the total number of periods of time to fully paid the loan?
A. 60
B. 66
C. 72
D. 80
8. After 50th payment, what is the total number of payments remain?
A. 22
B. 30
C. 40
D. 120
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