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. A loan of Php 40,000.00 with interest rate of 15% compounded biannually, is to be discharged by a series of 10 payments twice a year. The first payment to be made 6 months after the loan is finalized. The first 6 payments are worth Php 6000.00 each, while the remaining will be equal in amounts such that the final payment will liquidate the loan. What is the amount of the remaining payments? . Using the same information above, but the payment is uniform and the number of period is extended by half, how much would each payment be?

. A loan of Php 40,000.00 with interest rate of 15% compounded biannually, is to be discharged by a series of 10 payments twice a year. The first payment to be made 6 months after the loan is finalized. The first 6 payments are worth Php 6000.00 each, while the remaining will be equal in amounts such that the final payment will liquidate the loan. What is the amount of the remaining payments? . Using the same information above, but the payment is uniform and the number of period is extended by half, how much would each payment be?

Corporate Fin Focused Approach
Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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1. A loan of Php 40,000.00 with interest rate of 15% compounded biannually, is to be discharged by a series of 10 payments twice a year. The first payment to be made 6 months after the loan is finalized. The first 6 payments are worth Php 6000.00 each, while the remaining will be equal in amounts such that the final payment will liquidate the loan. What is the amount of the remaining payments? 2. Using the same information above, but the payment is uniform and the number of period is extended by half, how much would each payment be?
Transcribed Image Text:1. A loan of Php 40,000.00 with interest rate of 15% compounded biannually, is to be discharged by a series of 10 payments twice a year. The first payment to be made 6 months after the loan is finalized. The first 6 payments are worth Php 6000.00 each, while the remaining will be equal in amounts such that the final payment will liquidate the loan. What is the amount of the remaining payments? 2. Using the same information above, but the payment is uniform and the number of period is extended by half, how much would each payment be?
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