Problem Statement: ECE Board April 1998
Money borrowed today is to be paid in 6 equal payments at the end of 6 quarters. If the interest is 12% compounded quarterly, how much was initially borrowed if quarterly payment is P2,000.00?
- A. P10,834.38
- B. P10,278.12
- C. P10,450.00
- D. P10,672.90
Problem Answer:
The initially borrowed amount is P10,834.38.
View Solution:
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