Determine the outstanding balance of an electronic gadget which was bought with a down payment of P20,000 and a regular payment of P2799 every month for 24 months at 2 1/2% compounded monthly. A P65,457.77 B) P88,810.28 C) P68,810.28 D P85,457.77

Determine the outstanding balance of an electronic gadget which was bought with a down payment of P20,000 and a regular payment of P2799 every month for 24 months at 2 1/2% compounded monthly. A P65,457.77 B) P88,810.28 C) P68,810.28 D P85,457.77

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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Question

Determine the outstanding balance of an electronic gadget which was bought with a down payment of P20,000 and a regular
payment of P2799 every month for 24 months at 2 1/2% compounded monthly.
(A) P65,457.77
B P88,810.28
P68,810.28
P85,457.77

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