Question
Ramoncito deposited P15,000.00 today and he deposited the same equal amount each month for the next 9 months. Interest is 7% compounded monthly. a. How
Ramoncito deposited P15,000.00 today and he deposited the same equal amount each month for the next 9 months. Interest is 7% compounded monthly.
a. How much is the value of these 10 equal deposits after 9 months from today?
b. If Ramoncito failed to pay the last two monthly payments (8th and 9th), how much should he pay the bank a single amount of 14th month?
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The Business of Tourism Management
Authors: John Beech, Simon Chadwick
1st edition
273688013, 273688014, 9781405871631 , 978-0273688013
