The cost of the book is P1,000,000 which will amortized for 3 years monthly but he will start paying 8 months after the loan is given and must be finished at the end of 3 years. How much is the end of month amortization? Mr. Shark deposited P40000, P50000, and P70000 at year 1, 5, and 9 which is 10% effective. Replace this by an equivalent end of month amortization for 9 years.

The cost of the book is P1,000,000 which will amortized for 3 years monthly but he will start paying 8 months after the loan is given and must be finished at the end of 3 years. How much is the end of month amortization? Mr. Shark deposited P40000, P50000, and P70000 at year 1, 5, and 9 which is 10% effective. Replace this by an equivalent end of month amortization for 9 years.

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter22: Providing And Obtaining Credit

Section: Chapter Questions

Problem 2P: Cost of Bank Loan Mary Jones recently obtained an equipment loan from a local bank. The loan is for...

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