you are a lender. suppose you have savings. your friends approached you and asked if you can lend him P23,000 for his tuition fee payment. he said he is willing to pay 6% interets per annym payable in 6 months. You agreed with the term. How much interest should your friend pay you after 6 months? How much is the total amount you should recieve after 6 months?

you are a lender. suppose you have savings. your friends approached you and asked if you can lend him P23,000 for his tuition fee payment. he said he is willing to pay 6% interets per annym payable in 6 months. You agreed with the term. How much interest should your friend pay you after 6 months? How much is the total amount you should recieve after 6 months?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 6P

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