Question
A P28,000 debt at 15% interest compounded semi-annually is to be amortized at P2,250 every 6 months. A final smaller payment is to be made
A P28,000 debt at 15% interest compounded semi-annually is to be amortized at P2,250 every 6 months. A final smaller payment is to be made after the last regular payment. 1. How many regular payments are needed? 2. When will the final smaller payment be due? 3. How much is the final payment?
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Risk Management And Financial Institutions
Authors: John Hull
1st Edition
0132397900, 9780132397902
