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Mr. Sonny applied for a 250,000 php loan. He plans to pay for this loan annually at 8% per annum for 5 years. The annual payment is computed as 62,614.11l php. How much of the 4th payment goes to pay the principal? A 49,705.10 php B 8,932.60 php 12,909.01 php D 53,681.51 php

Mr. Sonny applied for a 250,000 php loan. He plans to pay for this loan annually at 8% per annum for 5 years. The annual payment is computed as 62,614.11l php. How much of the 4th payment goes to pay the principal? A 49,705.10 php B 8,932.60 php 12,909.01 php D 53,681.51 php

College Algebra
College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.3: Modeling With Linear Equations
Problem 3ECP: Your family has annual loan payments equal to 28 of its annual income. During theyear, the loan...
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Mr. Sonny applied for a 250,000 php loan. He plans to pay for this loan annually at 8% per annum for 5 years. The annual payment is computed as 62,614.11l php. How much of the 4th payment goes to pay the principal? A 49,705.10 php B 8,932.60 php 12,909.01 php D 53,681.51 php
Transcribed Image Text:Mr. Sonny applied for a 250,000 php loan. He plans to pay for this loan annually at 8% per annum for 5 years. The annual payment is computed as 62,614.11l php. How much of the 4th payment goes to pay the principal? A 49,705.10 php B 8,932.60 php 12,909.01 php D 53,681.51 php
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