A man purchased a car with a cash price of P350,000. He was able to negotiate with the seller to allow him to pay only a down payment of 20% and the balance payable in equal 48 end of the month installment at 1.5% interest per month. Once the day he paid the 20th installment, he decided to pay the remaining balance. What is the remaining balance that he paid?

A man purchased a car with a cash price of P350,000. He was able to negotiate with the seller to allow him to pay only a down payment of 20% and the balance payable in equal 48 end of the month installment at 1.5% interest per month. Once the day he paid the 20th installment, he decided to pay the remaining balance. What is the remaining balance that he paid?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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