question archive You are to pay a bill in Meralco every month for 5 years
You are to pay a bill in Meralco every month for 5 years
Subject:EconomicsPrice:2.87 Bought7
You are to pay a bill in Meralco every month for 5 years. The accumulated amount of the payment you paid is 60k pesos at a rate of 6% per year. The first payment is done after 4 years. How much are you paying every payment?
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Answer = 122.5433
AccumulatedA Payment = 60,000
Interest Rate = 6%
Monthly Payment=60,000(A/F, 6%, 60)
0.06 =60,000 12 0.06 1+ = 60,000A-0.0020424 =122.5433
