BUSINESS &

CONSUMER
LOANS
11- Compassionate
Mr. Finuliar borrowed P2,000,000 for the
expansion of his samgyupsal business. The
effective rate of interest is 9%. The loan is
to be repaid in full after two years. How
much is to be paid after two years?
Mr. Finuliar borrowed P2,000,000 for the expansion of his samgyupsal
business. The effective rate of interest is 9%. The loan is to be repaid in full
after two years. How much is to be paid after two years?

Given: Solution:
P = 2,000,000
j = 0.09 F = P(1 + j) n

n=2 F = 2,000,000(1 + 0.09) 2

Find F F = ₱2,376,200
(future value)
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thank youuu!