A new iphone model is offered at Php72,000 cash but can be acquired through installment at an interest rate of 2% per year compounded monthly. How much will you pay for the installment every month for two years? Answer is Blank 1 Note: Strictly use four decimal places of interest rate. And for your final answer, do not put comma, unit of measure and limit your answer to two decimal places, example 1234.56
A new iphone model is offered at Php72,000 cash but can be acquired through installment at an interest rate of 2% per year compounded monthly. How much will you pay for the installment every month for two years? Answer is Blank 1 Note: Strictly use four decimal places of interest rate. And for your final answer, do not put comma, unit of measure and limit your answer to two decimal places, example 1234.56
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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Transcribed Image Text:A new iphone model is offered at Php72,000 cash but can be acquired through installment at an interest rate of 2%
per year compounded monthly. How much will you pay for the installment every month for two years?
Answer is Blank 1
Note: Strictly use four decimal places of interest rate. And for your final answer, do not put comma, unit of
measure and limit your answer to two decimal places, example 1234.56
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