The PH debt as of today amounts to 12 trillion. These balloons with an interest rate of 0.16% yearly. Suppose the government requires every earning individual to pay the debt by 2030, how much each of us would need to pay monthly (annual payment amortized in 12 equal payments), assuming that inflation is 3%, the interest rate is 5.6% compounded daily, and we will start the payment by the end of 2022? The Philippines is estimated to have 110 million people, with a workforce of around 20%.

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Answer Explanation iAccording to the South China Morning Post on May 12 Philippine Secretary of Budg... View the full answer