Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hi guys need help for subject theory of interest An investment of P100,000 is to be used to make payments of P 4,000 at the
Hi guys need help for subject theory of interest
An investment of P100,000 is to be used to make payments of P 4,000 at the end of each quarter for as long as possible. If the rate of interest is 5% convertible quarterly, find: (a) the number of regular payments the fund will make, and number of days from the last payment to the exact date using exact time, assuming leap year on the last payment (b) the size of the smaller final payment if the payment will be made in addition to the last regular payment, (c) the size of the smaller final payment if the payment will be made one year after the last regular payment. (d) the size of the smaller final payment if the payment is to be made during the year following the last regular payment. An investment of P100,000 is to be used to make payments of P 4,000 at the end of each quarter for as long as possible. If the rate of interest is 5% convertible quarterly, find: (a) the number of regular payments the fund will make, and number of days from the last payment to the exact date using exact time, assuming leap year on the last payment (b) the size of the smaller final payment if the payment will be made in addition to the last regular payment, (c) the size of the smaller final payment if the payment will be made one year after the last regular payment. (d) the size of the smaller final payment if the payment is to be made during the year following the last regular paymentStep 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