A woman borrowed P3, 000, 000 to be paid after 1.5 years with interest at 12% compounded semiannually and P5, 000, 000 to be paid after 3 years at 12% compounded monthly. What single payment must she pay after 3.5 years at an interest rate of 16% compounded quarterly to settle the two obligations?

A woman borrowed P3, 000, 000 to be paid after 1.5 years with interest at 12% compounded semiannually and P5, 000, 000 to be paid after 3 years at 12% compounded monthly. What single payment must she pay after 3.5 years at an interest rate of 16% compounded quarterly to settle the two obligations?

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 19PROB

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