niel borrowed ₱ 100,00. He agrees to pay the principal plus the interest by paying equal amounts of money each quarter for 3 years. what should be his quarterly payment if interest is 8% compounded quarterly
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Answer:
P9455.959662
Step-by-step explanation:
F1 - future of cash
F2 - future of quarterly payment
F1 = F2
126824.1795 = A{ [(1-.08/4)^12 -1]/.08/4}
A = 9455.959662