A sala set costs P6,800 cash. A buyer pays P2,500 down-payment and the balance will be paid by equal monthly installment payments for 8 months with interest rate of 6% compounded monthly. Find:   a. the monthly payments:   b. construct an amortization schedule

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
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. A sala set costs P6,800 cash. A buyer pays P2,500 down-payment and the balance will be paid by equal monthly installment payments for 8 months with interest rate of 6% compounded monthly. Find:

 

a. the monthly payments:

 

b. construct an amortization schedule

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