Answer to Question #103162 in Finance for Deus

Question #103162
A debt of P15,000 was paid for as follows: P4,000 at the end of 3 months, P5,000 at the end of 12 months, P3,000 at the end of 15 months, and a final payment F at the end of 21 months. If the rate of interest was 18% compounded quarterly, find the final payment.
1
Expert's answer
2020-02-18T08:52:55-0500

The final payment is:

"F = (((15,000\u00d7(1 + \\frac{0.18}{4}) - 4,000)\u00d7(1 + 0.045)^3 - 5,000)\u00d7(1 + 0.045) - 3,000)\u00d7(1 + 0.045)^2 = 6,221.98."


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