5. A television set is available on an easy installment plan. The down payment is P 3,000 and the installment payment are P 500 each payable at the end of every three months for three years. If interest is 6% compounded quarterly, what is the equivalent cash price of the television?
5. A television set is available on an easy installment plan. The down payment is P 3,000 and the installment payment are P 500 each payable at the end of every three months for three years. If interest is 6% compounded quarterly, what is the equivalent cash price of the television?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Can you please help me answer question no. 05? Thanks!!! The course subject is
NOTE: Please include a cash flow diagram if possible. Thanks!
![5. A television set is available on an easy installment plan. The
down payment is P 3,000 and the installment payment are
P 500 each payable at the end of every three months for
three years. If interest is 6% compounded quarterly, what is
the equivalent cash price of the television?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0aa8725a-e00f-4f50-921f-b5907c619e4f%2Fa4f89e29-232a-40c6-90cd-8ba95c7dda39%2Fqrhnma_processed.png&w=3840&q=75)
Transcribed Image Text:5. A television set is available on an easy installment plan. The
down payment is P 3,000 and the installment payment are
P 500 each payable at the end of every three months for
three years. If interest is 6% compounded quarterly, what is
the equivalent cash price of the television?
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