Q3
A man loans P 187,400 from a bank with interest at 5% compounded annually. He agrees to pay his obligations by paying 8 equal annual payments, the first being due at the end of 10 years. Find the annual payments.
A.
P 43,600.10
B.
P 43,489.47
C.
P 43,263.91
D.
P 43,763.20
AnswerAnswer: Option D
Solution
Answer: Option D
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