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Mr. Dela Cruz borrowed Php 2,400.00 at 1% interest per month payable in 24 equal end of-the-month payments? How much of the loan remains unpaid
Mr. Dela Cruz borrowed Php 2,400.00 at 1% interest per month payable in 24 equal end of-the-month payments?
- How much of the loan remains unpaid immediately after he has paid the 12th payment?
- What is the effective annual interest rate?
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