Q2. Maria loaned an amount of 100,000Php payable in 15 equal quarterly instalments. The first payment was made a year after the money was borrowed. How much in each quarterly installments if rate of interest is 10% compounded bi-monthly? Answer: A = 8,285.46Php
Q2. Maria loaned an amount of 100,000Php payable in 15 equal quarterly instalments. The first payment was made a year after the money was borrowed. How much in each quarterly installments if rate of interest is 10% compounded bi-monthly? Answer: A = 8,285.46Php
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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This is how you answer the problem
(a) Identify the Given and the Unknown or what is being asked in the problem
(b)Provide the formula to be used
(c)Plug in the given in the formula if there is a derivation of the formula please show it
(d)Box the final answer. however, the final answer is already included in the problem, what you need to do is to match your answer and the answer in the book. Because in the book they only provide the answer but not the solution.
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Transcribed Image Text:Q2. Maria loaned an amount of 100,000Php payable in 15 equal quarterly instalments. The first
payment was made a year after the money was borrowed. How much in each quarterly installments if
rate of interest is 10% compounded bi-monthly?
Answer: A = 8,285.46Php
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