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 ? | MCQ Hive

Civil Engineering MCQs

Q 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 A. P 6,999.39
B B. P 6,292.93
C C. P 6,222.39
D D. P 6,922.93

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