An electric motor has a cash price of Php 8000. It can also be bought on installment basis with down payment of Php2000 and with periodic equal payments at the end of every 6 months for 5 yrs if interest is fixed at 8% compounded semi-annually, how much is each periodic payment? a.) Php 739.75 b.) Php 439.56 c.) Php 874.32 d.) Php 122.56
An electric motor has a cash price of Php 8000. It can also be bought on installment basis with down payment of Php2000 and with periodic equal payments at the end of every 6 months for 5 yrs if interest is fixed at 8% compounded semi-annually, how much is each periodic payment? a.) Php 739.75 b.) Php 439.56 c.) Php 874.32 d.) Php 122.56
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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An electric motor has a cash price of Php 8000. It can also be bought on installment basis with down payment of Php2000 and with periodic equal payments at the end of every 6 months for 5 yrs if interest is fixed at 8% compounded semi-annually, how much is each periodic payment?
a.) Php 739.75
b.) Php 439.56
c.) Php 874.32
d.) Php 122.56
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