A man borrowed P3 000 to be paid after 18 months with interest at 12% compounded semi-annually and P5 000 to be paid after 36 months at 12 % compounded monthly . What single payment must he pay after 42 months at an interest rate of 16% compounded quarterly to settle the two obligations ?

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 25E
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A man borrowed P3 000 to be paid after 18 months with interest at 12% compounded semi-annually
and P5 000 to be paid after 36 months at 12 % compounded monthly . What single payment must he pay
after 42 months at an interest rate of 16% compounded quarterly to settle the two obligations ? 

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