Problem Statement: ECE Board November 1998
A debt of P10,000 with 10% interest compounded semi-annually is to be amortized by semi-annual payment over the next 5 years. The first due in 6 months. Determine the semi-annual payment.
- A. P1,234.09
- B. P1,255.90
- C. P1,275.68
- D. P1,295.05
The semi-annual payment for a debt of P10,000 with 10% interest is P1,295.05.
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