Clark borrows P 600,000 at 15% compounded annually agreeing to repay theloan in 15 equal payments. How much of the original principal is still unpaid afterhe has made the 9th payment?P 288,327P 388,327P 202,040P 402,040

Loan amount (PV) = P600,000 Interest rate (r) = 15% Number of payments (n) = 15

Answered: Clark borrows P 600,000 at 15%…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Clark borrows P 600,000 at 15% compounded annually agreeing to repay the loan in 15 equal payments. How much of the original principal is still unpaid after he has made the 9th payment? O P 288,327 P 388,327 O P 202,040 O P 402,040