Stephanie loans P400,000.00 from a bank with interest at 6% compounded annually. She agrees to pay her obligations by paying 5 equalpayments, the first being due at the end of 10 years. Find the annual payments.O a. P97,832.68O b. P97,328.68O c. P97,382.68O d. P97,238.68

Loan amount = P 400000 Annual interest rate (R) = 6% Period of the first payment (t) = 10 Years

tephanie loans P400,000.00 from a bank with interest at 6% compounded annually. She agrees to pay her obligations by p ayments, the first being due at the end of 10 years. Find the annual payments. a. P97,832.68 b. P97,328.68 O c. P97,382.68 d. P97,238.68

tephanie loans P400,000.00 from a bank with interest at 6% compounded annually. She agrees to pay her obligations by p ayments, the first being due at the end of 10 years. Find the annual payments. a. P97,832.68 b. P97,328.68 O c. P97,382.68 d. P97,238.68

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Stephanie loans P400,000.00 from a bank with interest at 6% compounded annually. She agrees to pay her obligations by paying 5 equal
payments, the first being due at the end of 10 years. Find the annual payments.
O a. P97,832.68
O b. P97,328.68
O c. P97,382.68
O d. P97,238.68

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