A Php 13,601 was loaned at an interest rate of 0.061. 6 annual payments has to be settled, the first payment will start at the end of 3rd year. Compute for the principal amount remaining at the start of 6th year. *4 decimal places. Thank you

A Php 13,601 was loaned at an interest rate of 0.061. 6 annual payments has to be settled, the first payment will start at the end of 3rd year. Compute for the principal amount remaining at the start of 6th year. *4 decimal places. Thank you

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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A Php 13,601 was loaned at an interest rate of 0.061.

6 annual payments has to be settled, the first payment will start at the end of 3rd year.

Compute for the principal amount remaining at the start of 6th year.

*4 decimal places. Thank you

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