A firm borrows P2,000 for 6 years at 8%. At the end of 6 years, it renews the loan for the amount due plus P2,000 more for 2 years at 8%. What is the lump sum due ?
(A) P 3,260.34
(B) P 3,280.34
(C) P 3,270.34
(D) P 3,250.34
A firm borrows P2,000 for 6 years at 8%. At the end of 6 years, it renews the loan for the amount due plus P2,000 more for 2 years at 8%. What is the lump sum due ?
| Share this... |
 Facebook
|
 Twitter
|
 Linkedin
|
 Whatsapp
|
Related Mcqs
- Previous:What is the present worth of two P 100 payments at the end of the third year and fourth year? The annual interest rate is 8%?
- Next:In year zero, you invest P 10,000.00 in a 15% security for 5 years. During that time, the average annual inflation is 6%. How much in terms of year zero pesos will be in the account at maturity ?
Leave a Reply
Your email address will not be published. Required fields are marked *
