Suppose you borrowed Php 30,000 on a student loan at a rate of 8% and must repay it in three (3) equal installments at the end of each of the next three (3) years. d) What would your ending balance be after the first year? e) Complete the loan amortization table.
Suppose you borrowed Php 30,000 on a student loan at a rate of 8% and must repay it in three (3) equal installments at the end of each of the next three (3) years. d) What would your ending balance be after the first year? e) Complete the loan amortization table.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 41P
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Suppose you borrowed Php 30,000 on a student loan at a rate of 8% and must repay it in three (3) equal installments at the end of each of the next three (3) years.
d) What would your ending balance be after the first year?
e) Complete the loan amortization table.
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