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A car on sale costs P2,850,000.00 and requires a 10% down payment if purchased on an installment basis. The remaining balance will be paid through bank at 6.75% interest for four (4) years, compounded monthly, and loan is amortized. Set A 1. How much is the actual down payment? 2. How much is the beginning balance? 3. How much is the monthly payment (repayment R)? 4. How much money is paid in total? (A. including the down payment; B excluding the down payment) 5. How much is the total interest?

A car on sale costs P2,850,000.00 and requires a 10% down payment if purchased on an installment basis. The remaining balance will be paid through bank at 6.75% interest for four (4) years, compounded monthly, and loan is amortized. Set A 1. How much is the actual down payment? 2. How much is the beginning balance? 3. How much is the monthly payment (repayment R)? 4. How much money is paid in total? (A. including the down payment; B excluding the down payment) 5. How much is the total interest?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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A car on sale costs P2,850,000.00 and requires a 10% down payment if purchased on an installment basis. The remaining balance will be paid through bank at 6.75% interest for four (4) years, compounded monthly, and loan is amortized. Set A 1. How much is the actual down payment? 2. How much is the beginning balance? 3. How much is the monthly payment (repayment R)? 4. How much money is paid in total? (A. including the down payment; B excluding the down payment) 5. How much is the total interest?
Transcribed Image Text:A car on sale costs P2,850,000.00 and requires a 10% down payment if purchased on an installment basis. The remaining balance will be paid through bank at 6.75% interest for four (4) years, compounded monthly, and loan is amortized. Set A 1. How much is the actual down payment? 2. How much is the beginning balance? 3. How much is the monthly payment (repayment R)? 4. How much money is paid in total? (A. including the down payment; B excluding the down payment) 5. How much is the total interest?
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