Kate owes P120 000 due in 4 years plus the accumulated interest from today at 13% compounded quarterly. She agrees to pay it in installment: P30,000 after 2 years; P40,000 after 3 years the remaining balance at the end of 4 years How much was her final payment?

Kate owes P120 000 due in 4 years plus the accumulated interest from today at 13% compounded quarterly. She agrees to pay it in installment: P30,000 after 2 years; P40,000 after 3 years the remaining balance at the end of 4 years How much was her final payment?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 9P

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How much was her final payment?

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