A man borrowed money in the amount of P200,000 at 12% interest and wanted to pay...

 

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A man borrowed money in the amount of P200,000 at 12% interest and wanted to pay the loan back over four years. However, the first-period payment was P2,000 less than the second-period payment and the second was P3,000 greater than the third. If the fourth payment was P3,000 greater than the third, what was the size of the first payment? Your final answer must be in 2 decimal places. Add your answer Integer, decimal, or E notation allowed A man borrowed money in the amount of P200,000 at 12% interest and wanted to pay the loan back over four years. However, the first-period payment was P2,000 less than the second-period payment and the second was P3,000 greater than the third. If the fourth payment was P3,000 greater than the third, what was the size of the first payment? Your final answer must be in 2 decimal places. Add your answer Integer, decimal, or E notation allowed

Answer rating: 100% (QA)

1 Let X be the value of the third payment 2 The fourth payment is X 3000 3 The ... View the full answer