SOLUTION: Andrew borrowed PhP 25,000.00 and agrees to repay the loan by level monthly installments for 10 months at 8.4% interest convertible monthly. Construct a loan amortization schedule

Question 1182498: Andrew borrowed PhP 25,000.00 and agrees to repay the loan by level monthly installments for 10 months at 8.4% interest convertible monthly. Construct a loan amortization schedule for this loan.
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
present value = 25000
future value = 0
interest rate per month = 8.4% / 12 = .7%
number of months = 10
payments are made at the end of each month.
payments need to be 2597.257022 per month.
round to nearest penny = 2597.26 per month.

here's what it looks like using the arachnoid financial calculator at https://arachnoid.com/finance/index.html

inputs were everything but pmt.
click on pmt to get the answer.

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