ENGINEERING ECONOMICS Reginald borrowed a certain amount on June 2015 from Meldrick. Two years later, Reginald borrowed again from Meldrick an amount of P300, 000. Reginald paid P200, 000 on June 2018 and discharged his balance by paying P151, 000 on June 2019. What was the amount borrowed by Reginald on June 2005 if the interest rate is 8% compounded annually?
ENGINEERING ECONOMICS Reginald borrowed a certain amount on June 2015 from Meldrick. Two years later, Reginald borrowed again from Meldrick an amount of P300, 000. Reginald paid P200, 000 on June 2018 and discharged his balance by paying P151, 000 on June 2019. What was the amount borrowed by Reginald on June 2005 if the interest rate is 8% compounded annually?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 4P: Determining Loan Repayments Jerry Rockness needs 40,000 to pay off a loan due on December 31, 2028....
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Reginald borrowed a certain amount on June 2015 from Meldrick. Two years later, Reginald borrowed again from Meldrick an amount of P300, 000. Reginald paid P200, 000 on June 2018 and discharged his balance by paying P151, 000 on June 2019. What was the amount borrowed by Reginald on June 2005 if the interest rate is 8% compounded annually?
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