Show Solution. Topic: Simple Deffered Annuity 4. Mayrie Maurienne borrowed P65,000 from her brother Jesreal Eismar to buy a' new cellular phone. The interest rate being charged is only 8.2% compounded quarterly. She is to make the first P7,300 quarterly payment on the loan 9 months later after the date of the loan. Measured from the date of the first payment, how long will it take her to pay off the loan?
Show Solution. Topic: Simple Deffered Annuity 4. Mayrie Maurienne borrowed P65,000 from her brother Jesreal Eismar to buy a' new cellular phone. The interest rate being charged is only 8.2% compounded quarterly. She is to make the first P7,300 quarterly payment on the loan 9 months later after the date of the loan. Measured from the date of the first payment, how long will it take her to pay off the loan?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Topic: Simple Deffered
4. Mayrie Maurienne borrowed P65,000 from her brother Jesreal Eismar to buy a' new cellular phone. The interest rate being charged is only 8.2% compounded quarterly. She is to make the first P7,300 quarterly payment on the loan 9 months later after the date of the loan. Measured from the date of the first payment, how long will it take her to pay off the loan?
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