Suppose a customer has to pay a total amount of PhP 20,945 as a payment of a personal loan at the end of 3 years and 6 months at 4.68% compounded quarterly. How much is the borrowed amount?
Suppose a customer has to pay a total amount of PhP 20,945 as a payment of a personal loan at the end of 3 years and 6 months at 4.68% compounded quarterly. How much is the borrowed amount?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 12P
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Question
Suppose a customer has to pay a total
amount of PhP 20,945 as a payment of a
personal loan at the end of 3 years and 6
months at 4.68% compounded quarterly.
How much is the borrowed amount?
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