For item (13) A car is to be purchased in monthly payments of P17,000 for 4 years starting at the end of 4 months. How much is the fair market value of the car if the interest rate used is 12% converted monthly and down payment is 65,000? _____13. How many artificial payments is given?
For item (13) A car is to be purchased in monthly payments of P17,000 for 4 years starting at the end of 4 months. How much is the fair market value of the car if the interest rate used is 12% converted monthly and down payment is 65,000? _____13. How many artificial payments is given?
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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For item (13) A car is to be purchased in monthly payments of P17,000 for 4 years starting at the end of 4 months. How much is the fair market value of the car if the interest rate used is 12% converted monthly and down payment is 65,000?
_____13. How many artificial payments is given?
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