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A smart watch is purchased with a down payment of P2,000 and the balance will be paid at P2,500 monthly for 12 months at 3% compounded monthly. How much is the outstanding balance? A P4,500.00 P29,518.13 C) P31,518.18 D) P2,500.00

A smart watch is purchased with a down payment of P2,000 and the balance will be paid at P2,500 monthly for 12 months at 3% compounded monthly. How much is the outstanding balance? A P4,500.00 P29,518.13 C) P31,518.18 D) P2,500.00

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 smart watch is purchased with a down payment of P2,000 and the balance will be paid at P2,500 monthly for 12 months at 3% compounded monthly. How much is the outstanding balance? A P4,500.00 В P29,518.13 C) P31,518.18 D) P2,500.00
Transcribed Image Text:A smart watch is purchased with a down payment of P2,000 and the balance will be paid at P2,500 monthly for 12 months at 3% compounded monthly. How much is the outstanding balance? A P4,500.00 В P29,518.13 C) P31,518.18 D) P2,500.00
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