Solution: What does Mr. Ayala pay each month?

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?

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:

Latest Problem Solving in Engineering Economics (Annuity, Depreciation, Bonds, Breakeven, etc.)

More Questions in: Engineering Economics (Annuity, Depreciation, Bonds, Breakeven, etc.)

Online Questions and Answers in Engineering Economics (Annuity, Depreciation, Bonds, Breakeven, etc.)


Search! Type it and Hit Enter


We educate thousands of students a week in preparation for their licensure examinations. We provide professionals with materials for their lectures and practice exams. To help us go forward with the same spirit, contribution from your side will highly appreciated. Thank you in advance.


Post a Comment

Contact Form

Name

Email *

Message *

Powered by Blogger.
Javascript DisablePlease Enable Javascript To See All Widget
Real Time Web Analytics