A man purchased a car with a cash price of P700,000.00. 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. On the day he paid the 20th installment, he decided to pay the remaining balance. How much is the remaining balance that he paid?
A man purchased a car with a cash price of P700,000.00. 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. On the day he paid the 20th installment, he decided to pay the remaining balance. How much is the remaining balance that he paid?
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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