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
Mr. Ayala pay P839.19 each month..
This content is for Premium Member. Tired of ads?
Subscribe To Unlock The Content! and Remove Ads.
More Questions in: Engineering Economics (Annuity, Depreciation, Bonds, Breakeven, etc.)
Also Questions in: Engineering Economics (Simple & Compound Interest)