SOLUTION: Mr. P has a debt of Php5,000 due in five years is to be repaid. Php2,000 now and a second payment at the end of 6 years. How much should the second payment be if the rate of inter

Question 1186810: Mr. P has a debt of Php5,000 due in five years is to be repaid. Php2,000 now and a second payment at
the end of 6 years. How much should the second payment be if the rate of interest is 6% compounded
quarterly?
Answer by ikleyn(52788) (Show Source): You can put this solution on YOUR website!
.
Mr. P has a debt of Php5,000 due in five years is to be repaid. Php2,000 now
and a second payment at the end of 6 years. How much should the second payment be
if the rate of interest is 6% compounded quarterly?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

This problem's formulation is , and I will explain WHY it is so, right now.

In the first sentence it says that the debt is due in 5 years.

Then in the second statement it tells that the second payment is at the end of 6 years,
without any explanations, why it is in 6 years and not in 5.

I do not like when idiotic assignments are posted to the forum.

So please refrain from posting idiotic tasks to this forum. Thanks.

Simply make an effort and check/read your post before submitting.

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