To pay off a P100,000 loan , it is required that 20 semi -annual payments that is increased by P500.00 be made . Determine the amount of the first payment if it is due six months after the loan is made and interest Is 7% compounded semi-annually. A) P2,854 C) P102,038 B) P4,182 D) P7,036

To pay off a P100,000 loan , it is required that 20 semi -annual payments that is increased by P500.00 be made . Determine the amount of the first payment if it is due six months after the loan is made and interest Is 7% compounded semi-annually. A) P2,854 C) P102,038 B) P4,182 D) P7,036

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 18P

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Question

. To pay off a P100,000 loan , it is required that 20 semi -annual payments that is increased by
P500.00 be made . Determine the amount of the first payment if it is due six months after the loan is made
and interest Is 7% compounded semi-annually.
A) P2,854 C) P102,038
B) P4,182 D) P7,036

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