A man bought a lot worth ₱1.5M if paid in cash. On the installment basis, he will pay a down payment of ₱0.5M, ₱300,000.00 at the end of 1 years, and ₱700,000.00 at the end of 3 years and a final payment at the end of 5 years. What was the final payment if interest is at 22%?

A man bought a lot worth ₱1.5M if paid in cash. On the installment basis, he will pay a down payment of ₱0.5M, ₱300,000.00 at the end of 1 years, and ₱700,000.00 at the end of 3 years and a final payment at the end of 5 years. What was the final payment if interest is at 22%?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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