a. The OP at the end of 3 years. b. OP after the 45th payment. c. Estimate how many payments needed to settle the loan.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 15P
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A debt of P100,000 with interest at 24% compounded monthly, will be amortized by monthly payments of P 1000 as long as necessary. Use both prospective and retrospective methods.

a. The OP at the end of 3 years.

b. OP after the 45th payment.

c. Estimate how many payments needed to settle the loan.

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