t gave her an option to pay P10,000 monthly for 1 year. The first payment is due after 6 months. How much is the present value of the loan if the interest rate is 12% converted monthly?
t gave her an option to pay P10,000 monthly for 1 year. The first payment is due after 6 months. How much is the present value of the loan if the interest rate is 12% converted monthly?
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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Question
Minerva availed of a cash loan that gave her an option to pay P10,000 monthly for 1 year. The first
payment is due after 6 months. How much is the present value of the loan if the interest rate is 12%
converted monthly?
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