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Answered

10. What is the total amount that must be repaid on a loan of P 28 000.00 at 8%
compounded semi-annually for 3 years?
A. P 35,428.93 B. P 35,284.93 C. P 34,720.76 D. P 34,270.67​

Sagot :

Anjelsvillanuevago

Given:

P=28,000 r=8% or 0.08 t=3yrs n(semi-annually)=2

Solution:

F=P(1+r/n)^nt

F=28,000(1+0.08/2)^2(3)

F=28,000(1+0.04)^6

F=28,000(1.265319)

F=35,428.93

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