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minyoongi2004
@minyoongi2004
August 2022
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A promissory note will pay P30,000 at a 10-year maturity from now. How much should you be willing to pay for the note now if money is worth 9% compounded continuously? Round your final answer to the nearest whole number.
Answers & Comments
markkevincabab05
Answer:
Divide your interest rate by the number of payments you'll make that year. ...
Multiply that number by your remaining loan balance to find out how much you'll pay in interest that month. ...
Subtract that interest from your fixed monthly payment to see how much in principal you will pay in the first month.
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Answers & Comments
Answer:
Divide your interest rate by the number of payments you'll make that year. ...
Multiply that number by your remaining loan balance to find out how much you'll pay in interest that month. ...
Subtract that interest from your fixed monthly payment to see how much in principal you will pay in the first month.