Problem
The principal of a loan P75,000 will be paid at the end of 4 years by the accumulation of a sinking fund by quarterly deposits, and interest will be payable on the debt quarterly at the rate of 9% compounded quarterly
1. Find the quarterly expense of the loan to the debtor if his sinking fund is invested at 12% compounded quarterly.
2. Find the book value of the debt after the 10th deposit.