Engineering Economics

A young engineer borrowed P 10,000 at 12% interest and paid P 2,000 per annum for the last 4 years. What does he have to pay at the end of the fifth year in order to pay off his loan?

  • A. P 6,999.39
  • B. P 6,292.93
  • C. P 6,222.39
  • D. P 6,922.93
Answer: Option D.

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