A student borrowed P5,000 which she will pay in 30 equal monthly installments. After her twenty-fifth...

A student borrowed P5,000 which she will pay in 30 equal monthly installments. After her twenty-fifth payment she desires to pay the remainder of the loan in a single payment. At 15% interest compounded monthly, what is the amount of the payment? Draw cash flow diagram

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Expert Solution

amount to be pay after 25 months =779.07

Ally Wells answered 6 months ago

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