An original loan of P200,000 was made at 10% simple interest per year for 4 years. At the end of this time, no interest had been paid and the loan was extended for 6 more years at a new interest rate of 12% per year compounded monthly. What is the total amount owed on the 10th year if no intermediate payments are made?

An original loan of P200,000 was made at 10% simple interest per year for 4 years. At the end of this time, no interest had been paid and the loan was extended for 6 more years at a new interest rate of 12% per year compounded monthly. What is the total amount owed on the 10th year if no intermediate payments are made?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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