SJS Software needs to accumulate P650,000 in 2 years to meet future needs. What regular payment would they need to make at the end of each month, at 2% interest compounded monthly?

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
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SJS Software needs to accumulate P650,000 in 2 years to meet future needs. What regular payment would they need to make at the end of each month, at 2% interest compounded monthly? 
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