A debt of P43,000 whose interest rate is 14% compounded semi-annually, is to be discharged by a series of 1O semi-annual payments, the first payment to be made 6 months after consummation of the loan. The first 6 payments will be P6,300 each, while the remaining 4 payments will be equal and of such amount that the final payment will liquidate the debt. What is the amount of the last 4 payments. A = Php 7,746.897 A = Php 8,746.789 A = Php 6,746.328 A = Php 5,746.814

A debt of P43,000 whose interest rate is 14% compounded semi-annually, is to be discharged by a series of 1O semi-annual payments, the first payment to be made 6 months after consummation of the loan. The first 6 payments will be P6,300 each, while the remaining 4 payments will be equal and of such amount that the final payment will liquidate the debt. What is the amount of the last 4 payments. A = Php 7,746.897 A = Php 8,746.789 A = Php 6,746.328 A = Php 5,746.814

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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