Ms. saya got a business loan worth ₱ 500,000 she promised to pay the loan semi-annually in 2 years the semi annual payment is ₱ 150,000.00 if the money is worth 10% converted semi annually how much is the outstanding balance after the first payment?
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Ms. saya got a business loan worth ₱ 500,000 she promised to pay the loan semi-annually in 2 years the semi annual payment is ₱ 150,000.00 if
Answer:
65,000 PESOS
Step-by-step explanation:
PRINCIPAL = 500,000 PESOS AND 150,000 PESOS
RATE = 10% OR 0.1%
TIME = 2 YEARS
500,000 PESOS + 150,000 PESOS = 650,000 PESOS
650,000 PESOS × 0.1% = 65,000 PESOS