Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Ben borrowed PHP 1,300,000 from a finance company that charges interest at 16%
compounded semi-annually. He promised to pay off the loan in 18 semi-annual
payments. The first payment is to be made at the end of 2 years. Find his semi-annual
payment.
PHP 191,701.09
PHP 132,817.77
PHP 101,281.16
O PHP 174,738.08
None of the above
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Transcribed Image Text:Ben borrowed PHP 1,300,000 from a finance company that charges interest at 16% compounded semi-annually. He promised to pay off the loan in 18 semi-annual payments. The first payment is to be made at the end of 2 years. Find his semi-annual payment. PHP 191,701.09 PHP 132,817.77 PHP 101,281.16 O PHP 174,738.08 None of the above
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