A man pays 1.5% interest on his loan four times a year. Find the effective annual interest rate. 5. A property has a cash value of P150,000.00. The buyer agreed to pay P30,000.00 cas plus equal yearly payments for 15 years. If the oney is worth 14% to the owner of the property, how much must the buyer pay yearly?
A man pays 1.5% interest on his loan four times a year. Find the effective annual interest rate. 5. A property has a cash value of P150,000.00. The buyer agreed to pay P30,000.00 cas plus equal yearly payments for 15 years. If the oney is worth 14% to the owner of the property, how much must the buyer pay yearly?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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3. A man pays 1.5% interest on his loan four times a year. Find the effective annual interest rate.
5. A property has a cash value of P150,000.00. The buyer agreed to pay P30,000.00 cas plus equal yearly payments for 15 years. If the oney is worth 14% to the owner of the property, how much must the buyer pay yearly?
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