Imelda took a loan of Php950,000 from a financial institution to purchase a TV set. If the the company charges compound interest at 12 % per annum during the first year and 12 ½ % per annum during the second year, how much will she have to pay after 5 years?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Imelda took a loan of Php950,000 from a financial institution to purchase a TV set. If the the company charges compound interest at 12 % per annum during the first year and 12 ½ % per annum during the second year, how much will she have to pay after 5 years?
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