A man borrowed an amount of P150,600 to bank that offers an interest rate of 5.36% compounded continuously and has a mat
Posted: Mon May 02, 2022 10:56 am
A man borrowed an amount of P150,600 to bank that offers an interest rate of 5.36% compounded continuously and has a maturity date of 6 years. He plans to pay the loan at an amount of P15,800 at the end of 2 years, and P10,450 at the end of 3 years.
1. How much must he pay at the end of 6 years?
2. If instead of paying an amount at the end of 2nd and 3rd year, he decided to pay by a single lump sum all the amount including the future liabilities at the end of 5 years, how much is the lump sum?
1. How much must he pay at the end of 6 years?
2. If instead of paying an amount at the end of 2nd and 3rd year, he decided to pay by a single lump sum all the amount including the future liabilities at the end of 5 years, how much is the lump sum?