Question: A certain loan was to be amortized based on the schedule below at 15% interest. What is the equivalent annual uniform payment of the loan?

A certain loan was to be amortized based on the schedule below at 15% interest. What is the equivalent annual uniform payment of the loan? P5,775.08

End of Year Payment

1 P 7,000

2 P 6,500

3 P 6,000

4 P 5,500

5 P 5,000

6 P 4,500

7 P 4,000

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