2. A loan is being repaid with 20 annual payments of P1,000 at the end of each year. Atter the tenth payment, the borrower wishes to pay the balance with 10 semi-annual payments of X paid at the end of each half-year. If the nominal rate of interest convertible semiannually is 10%, solve for X.
2. A loan is being repaid with 20 annual payments of P1,000 at the end of each year. Atter the tenth payment, the borrower wishes to pay the balance with 10 semi-annual payments of X paid at the end of each half-year. If the nominal rate of interest convertible semiannually is 10%, solve for X.
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 19P
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