Engr. Lalai borrowed money worth of P120,000 at 8% effective annual interest. She agreed to pay the loan over 12 years with a uniform monthly payment due immediately on the first day of each month. Engr Lalai therefore
Engr. Lalai borrowed money worth of P120,000 at 8% effective annual interest. She agreed to pay the loan over 12 years with a uniform monthly payment due immediately on the first day of each month. Engr Lalai therefore
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Engr. Lalai borrowed money worth of P120,000 at 8% effective annual interest. She
agreed to pay the loan over 12 years with a uniform monthly payment due immediately on
the first day of each month. Engr Lalai therefore will pay a monthly amount of _________.
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