Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:1. Mr. Reyes borrows P600, 000 at 12% compounded annually, agreeing to repay
the loan in 15 equal annual payments. How much of the original principal is still
unpaid after he has made the 8th payment?
ANS. 162,378.06
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