1. Mr. Reyes borrows P600, 000 at 12% compounded annually, agreeing to repaythe loan in 15 equal annual payments. How much of the original principal is stillunpaid after he has made the 8th payment?ANS. 162,378.06

Loans are paid by the periodic payments that are paid equally annually and they carry payment of…

Answered: Mr. Reyes borrows P600, 000 at 12%…

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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Mr. Reyes borrows P600, 000 at 12% compound the loan in 15 equal annual payments. How muc unpaid after he has made the 8th payment?