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?
Mr. Ayala pay P839.19 each month..
Latest Problem Solving in Engineering Economics (Annuity, Depreciation, Bonds, Breakeven, etc.)
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