a businessman borrowed Php4000 to be paid after 1 1/2 years with interest at 10% compounded semi- annually and Php 6000 to be paid after 4 years at 11% compounded monthly. What single payment must he pay after 4 1/2 years at an interest rate of 15% compounded quarterly to settle the 2 loans?
a businessman borrowed Php4000 to be paid after 1 1/2 years with interest at 10% compounded semi- annually and Php 6000 to be paid after 4 years at 11% compounded monthly. What single payment must he pay after 4 1/2 years at an interest rate of 15% compounded quarterly to settle the 2 loans?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 9P
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