Imelda took a loan of Php 950,000 from a financial institution to purchase a TV. If the company charges compound interest at 12% per annum during the first year and 12½% per annum during the second year, how much will she have to pay after 5 years?
Imelda took a loan of Php 950,000 from a financial institution to purchase a TV. If the company charges compound interest at 12% per annum during the first year and 12½% per annum during the second year, how much will she have to pay after 5 years?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Imelda took a loan of Php 950,000 from a financial institution to purchase a TV. If the company charges compound interest at 12% per annum during the first year and 12½% per annum during the second year, how much will she have to pay after 5 years?
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