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What future amount is due at the end of the loan period

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Q1) A loan of Php 2,500 is made for a period of 13 months, from January 1 to January 31 the following year, at an interest rate of 5%, compounded quarterly. What future amount is due at the end of the loan period?

Q2) You borrowed a certain amount of money to be paid after some years. If the interest rate is 1.2% compounded biannually, when should you pay the amount such that it's only 50% more than the principal amount?

Reference no: EM132926100

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