Question 1193606
**1. Determine the Quarterly Interest Rate:**

* Annual Interest Rate: 8%
* Quarterly Interest Rate: 8% / 4 = 2% or 0.02

**2. Calculate the Number of Quarterly Payments**

* **Use a financial calculator or spreadsheet software (like Excel or Google Sheets) to determine the number of payments.**

    * **In Excel, you can use the NPER function:** 
        * `=NPER(rate, pmt, pv, [fv], [type])`
            * rate: Quarterly interest rate (0.02)
            * pmt: Payment amount (-15,000) 
            * pv: Present value (175,000)
            * fv: Future value (0, as the loan will be fully paid off) 
            * type: 0 for payments at the end of each period (default)

    * This will give you the number of quarterly payments required to repay the loan. 

* **Using a financial calculator or spreadsheet, you'll find that it takes approximately 14 quarterly payments to repay the loan.**

**Therefore, 14 quarterly payments of ₱15,000 will be necessary to pay off a debt of ₱175,000 at an 8% annual interest rate compounded quarterly.**