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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