Money borrowed today is to be paid in 6 equal payments at the end of 6 quarters. If the interest is 12% compounded quarterly, how much was initially borrowed if quarterly payment is P2,000.00? include a non-excel cashflow

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
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h.Money borrowed today is to be paid in 6 equal payments
at the end of 6 quarters. If the interest is 12% compounded
quarterly, how much was initially borrowed if quarterly
payment is P2,000.00? include a non-excel cashflow

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