A debt of P15,000.00 with an interest at the rate of 16% compounded semi-annually is to be amortized by 5 equal payments at the end of 6 months, the first payment is to be made after 3 years. Find the semi-annual payment and construct the amortization table.
A debt of P15,000.00 with an interest at the rate of 16% compounded semi-annually is to be amortized by 5 equal payments at the end of 6 months, the first payment is to be made after 3 years. Find the semi-annual payment and construct the amortization table.
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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A debt of P15,000.00 with an interest at the rate of 16% compounded semi-annually is to be amortized by 5 equal payments at the end of 6 months, the first payment is to be made after 3 years. Find the semi-annual payment and construct the amortization table.
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