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A monthly payment must be made to pay off a car worth Php 1,800,000 for 5 years. Assuming compounding is done monthly and money is worth 7%, how much should be paid monthly? O Php 35,642 O Php 31,110 O Php 22,212 Php 25,142

A monthly payment must be made to pay off a car worth Php 1,800,000 for 5 years. Assuming compounding is done monthly and money is worth 7%, how much should be paid monthly? O Php 35,642 O Php 31,110 O Php 22,212 Php 25,142

Essentials Of Investments
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
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A monthly payment must be made to pay off a car worth Php 1,800,000 for 5 years. Assuming compounding is done monthly and money is worth 7%, how much should be paid monthly? O Php 35,642 O Php 31,110 O Php 22,212 O Php 25,142
Transcribed Image Text:A monthly payment must be made to pay off a car worth Php 1,800,000 for 5 years. Assuming compounding is done monthly and money is worth 7%, how much should be paid monthly? O Php 35,642 O Php 31,110 O Php 22,212 O Php 25,142
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