a certain loan was arranged such that Dino will pay ₱5,500 every month for the first 7 months; no payments for the next 5 months; then the monthly payments of ₱5,500 will continue for another 18 months. If the settlement rate is 1.5% compounded mo

a certain loan was arranged such that Dino will pay ₱5,500 every month for the first 7 months; no payments for the next 5 months; then the monthly payments of ₱5,500 will continue for another 18 months. If the settlement rate is 1.5% compounded mo

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 12E

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Question

The payment for a certain loan was arranged such that Dino will pay ₱5,500 every month for the first 7 months; no payments for the next 5 months; then the monthly payments of ₱5,500 will continue for another 18 months. If the settlement rate is 1.5% compounded monthly, then the present value of the payments is ₱ _________ .

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