Question
A man borrowed P 300000 from a lending institution which will be paid after 10 years at an interest rate of 15% compounded annually. If
A man borrowed P 300000 from a lending institution which will be paid after 10
years at an interest rate of 15% compounded annually. If money is worth 8% per
annum, how much should he deposit to a bank monthly in order to discharge his debt
10 years hence?
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Foundations of Macroeconomics
Authors: Robin Bade, Michael Parkin
8th edition
134492005, 978-0134492001
