Ramoncito borrowed P100,000.00 on October 31, 2019 from Barboncito and the loan has an interest rate of 6% per year until full payment. How much should Ramoncito pay Barboncito on March 10, 2020 in order to fully satisfy the obligation?

Ramoncito borrowed P100,000.00 on October 31, 2019 from Barboncito and the loan has an interest rate of 6% per year until full payment. How much should Ramoncito pay Barboncito on March 10, 2020 in order to fully satisfy the obligation?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Ramoncito borrowed P100,000.00 on October 31, 2019
Barboncito and the loan has an interest rate of 6 % per year until full
payment. How much should Ramoncito pay Barboncito on March
10, 2020 in order to fully satisfy the obligation?

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