Solution: What does Mr. Ayala pay each month?

(Last Updated On: December 8, 2017)

What does Mr. Ayala pay each month?

Problem Statement: ME Board October 1996

Mr. Ayala borrows P100,000 at 10% effective annual interest. He must pay back the loan over 30 years with uniform monthly payments due on the first day of each month. What does Mr. Ayala pay each month?

  • A. P839.19
  • B. P842.38
  • C. P807.16
  • D. P814.75

Problem Answer:

Mr. Ayala pay P839.19 each month..

Solution:

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Solution: What does Mr. Ayala pay each month?
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