4. Cloy availed a cash loan that gave him an option to pay P10,000 monthly for one year. The first payment is due after 6 months. How much is the present value of the loan if the interest rate is 12% compounded monthly?
4. Cloy availed a cash loan that gave him an option to pay P10,000 monthly for one year. The first payment is due after 6 months. How much is the present value of the loan if the interest rate is 12% compounded monthly?
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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