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Determine the equal period payments

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Reference no: EM133079217

Directions: Solve the following problems

SITUATION 1:Kate have been dreaming of a house since she was a teenager. She found it at a selling price of P580,000 with aninterest rate of 5.5%. Determine the equal period payments if:

1. rate is compounded monthly for 1 year

2. rate is compounded quarterly for 3 years

Reference no: EM133079217

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