4. A car dealer advertises the sale of a car model for a cash price of P1,000,000. If purchased on installment, the downpayment is 20% and the balance payable in 3 years equal monthly installments at an interest of 1.8% per month, a) how much will be the required monthly payment and b) what will be the accumulated amount of these payments invested bi-monthly for 1year.
4. A car dealer advertises the sale of a car model for a cash price of P1,000,000. If purchased on installment, the downpayment is 20% and the balance payable in 3 years equal monthly installments at an interest of 1.8% per month, a) how much will be the required monthly payment and b) what will be the accumulated amount of these payments invested bi-monthly for 1year.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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