Ken is paying P2,500 every 3 months for the amount he borrowed at an interest rate of 8% compounded quarterly. How much did he borrow if he agreed that the loan will be paid in 2 years and 6 months?
Ken is paying P2,500 every 3 months for the amount he borrowed at an interest rate of 8% compounded quarterly. How much did he borrow if he agreed that the loan will be paid in 2 years and 6 months?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Ken is paying P2,500 every 3 months for the amount he borrowed at an interest rate of 8% compounded quarterly. How much did he borrow if he agreed that the loan will be paid in 2 years and 6 months?
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