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Mr. An is considers to fund an equipment for an air-conditioning sub-contractor amounting to P415,000. The manager promised him to repay the amount loaned at
Mr. An is considers to fund an equipment for an air-conditioning sub-contractor amounting to P415,000. The manager promised him to repay the amount loaned at an interest rate of 8% per year in 3 years. a. Fill the blank on the table below: End of year Interest paid Principal Repayment 1 P 33,200 2 21,200 150,000 3 b. What is the unpaid balance at year 1? c. What is the amount of principal owed at the beginning of year 3? d. What lump sum amount has to repaid on the 3rd year
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