Sonny borrowed a certain amount on June 1990 from Romeo. Two years later, Sonny borrowed again from Romeo an amount of P5,000. Sonny paid P1,000 on June 1993 and discharged his balance by paying P7,500 on June 1995. What was the amount borrowed by Sonny on June 1990 if the interest rate is 9% compounded annually? O P1,775.49 P 1,438.90 P 1,994.08 P 1,611.51 P 1,438.27 P 1,867.87

Sonny borrowed a certain amount on June 1990 from Romeo. Two years later, Sonny borrowed again from Romeo an amount of P5,000. Sonny paid P1,000 on June 1993 and discharged his balance by paying P7,500 on June 1995. What was the amount borrowed by Sonny on June 1990 if the interest rate is 9% compounded annually? O P1,775.49 P 1,438.90 P 1,994.08 P 1,611.51 P 1,438.27 P 1,867.87

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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