ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- Give correct typing answerarrow_forwardThe Philippine debt as of today amounts to 12 trillion. This balloons with an interest rate of 0.16% yearly. Suppose the government requires every earning individual to pay the debt by 2030, how much each of us would need to pay monthly (annual payment amortized in 12 equal payments), assuming that inflation is 3%, the interest rate is 5.6%compounded daily, and we will start the payment by the end of 2022? The Philippines is estimated to have 110million people, with the work force of around 20%.arrow_forward
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