Christina Rodriguez bought a Smart TV that costs P110,000. She paid P25,000 as down payment and paid the balance in 12 monthly equal payments. If money is worth 12% compounded monthly, find the monthly payment.

Essentials Of Investments
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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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3. Christina Rodriguez bought a Smart TV that costs P110,000. She paid P25,000 as down payment and paid the balance in 12 monthly equal payments. If money is worth 12% compounded monthly, find the monthly payment.

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