Win metawins debt of php 50,000 with interest of 18% compounded quarterly will be discharged, interest included, by payments of php 7,000 at the end of every three months for as long as necessary
find
The outstanding principal just after the second payment
The outstanding principal just after the 7th payment and
The standing balance just after the regular payments
find
The outstanding principal just after the second payment
The outstanding principal just after the 7th payment and
The standing balance just after the regular payments
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Answer:
63,000,000 PESOS
Step-by-step explanation:
PRINCIPAL = 50,000 PESOS AND 7,000 PESOS
RATE = 18% OR 0.18%
50,000 PESOS × 7,000 PESOS = 350,000,000 PESOS
350,000 PESOS × 0.18% = 63,000,000 PESOS