Answered step by step
Verified Expert Solution
Question
1 Approved Answer
10. Find the amount of a P42,000 ordinary annuity payable quarterly for 4 years. Money is worth 16% compounded quarterly. 11. The monthly payment of
10. Find the amount of a P42,000 ordinary annuity payable quarterly for 4 years. Money is worth 16% compounded quarterly. 11. The monthly payment of 6 -year loan with interest at 15.3% compounded monthly is P36,000. What was the original principal amount of the loan. 12. If money is worth 14% compounded quarterly. How much must be deposited every quarter in a fund to have P500,000 at the end of 15 years. 13. Determine the interest rate compounded annually at which the P8,200 payment every year will amount to P90,000 in 8 years
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started