Your father obtained a car loan for ₱800,000 with an annual rate of 15% for 5 years. Direction: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for the scenario above using a simple interest assumption and compound interest assumption.
Your father obtained a car loan for ₱800,000 with an annual rate of 15% for 5 years. Direction: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for the scenario above using a simple interest assumption and compound interest assumption.
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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Your father obtained a car loan for ₱800,000 with an annual rate of 15% for 5 years.
Direction: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for the scenario above using a simple interest assumption and compound interest assumption.
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