A man bought a Ford vintage car for P210,000 on installment basis at the rate of 12% per annum on the unpaid balance. If he paid a down payment of P80,000 in cash and proposes to pay the balance in 20 quarterly payments, what should this payment be?
A man bought a Ford vintage car for P210,000 on installment basis at the rate of 12% per annum on the unpaid balance. If he paid a down payment of P80,000 in cash and proposes to pay the balance in 20 quarterly payments, what should this payment be?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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A man bought a Ford vintage car for P210,000 on installment basis at the rate of 12% per annum on the unpaid balance. If he paid a down payment of P80,000 in cash and proposes to pay the balance in 20 quarterly payments, what should this payment be?
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