How many equal payments of P13,500 should be made to pay off a debt of P152,000 if

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How many equal payments of P13,500 should be made to pay off a debt of P152,000 if the interest is a. 12% compounded semi-annually? b. 15% compounded quarterly? c. 20% compounded monthly?

Related Book For answer-question

Contemporary Business Mathematics With Canadian Applications

ISBN: 9780135285015

12th Edition

Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday

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Posted Date: Apr 04, 2024 02:33 AM

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How many equal payments of P13,500 should be made to pay off a debt of P152,000 if

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Expert Answer:

We can use the Present Value PV formula of an annuity to solve for the number of payments needed n i... View the full answer

Contemporary Business Mathematics With Canadian Applications

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