Money borrowed today is to be paid in 6 equal payments at the end of 6 quarters. If the interest is 12% compounded quarterly, how much was initially borrowed if quarterly payment is P2,000.00? include a non-excel cashflow

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 18E
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h.Money borrowed today is to be paid in 6 equal payments
at the end of 6 quarters. If the interest is 12% compounded
quarterly, how much was initially borrowed if quarterly
payment is P2,000.00? include a non-excel cashflow

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