A has existing loans: - - Loan 1, due at the end of 6 years, simple...
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A has existing loans: - - Loan 1, due at the end of 6 years, simple interest of 10%, P200,000 Loan 2, due at the end of 3 years, compound interest of 9% compounded semi- annually, P300,000 Because A is experiencing financial difficulty, he estimated that he will be back by the end of eight years, hence he promise to settle both obligations at that time with a 9% interest compounded quarterly. By how much will A pay the foregoing loans? A has existing loans: - - Loan 1, due at the end of 6 years, simple interest of 10%, P200,000 Loan 2, due at the end of 3 years, compound interest of 9% compounded semi- annually, P300,000 Because A is experiencing financial difficulty, he estimated that he will be back by the end of eight years, hence he promise to settle both obligations at that time with a 9% interest compounded quarterly. By how much will A pay the foregoing loans?
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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