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In solving, indicate the Cash Flow Diagram and Solution A man bought a ford vintage car for Php 526630 on installment basis at the rate of 12% per year compounded annually on the unpaid balance. if he paid a down payment of Php 138146 in cash and proposes to pay the balance in 24 quarterly payments, what should this payment be? (Round off interest rate to five decimal places ) Note: use the reference formulas to solve this

In solving, indicate the Cash Flow Diagram and Solution A man bought a ford vintage car for Php 526630 on installment basis at the rate of 12% per year compounded annually on the unpaid balance. if he paid a down payment of Php 138146 in cash and proposes to pay the balance in 24 quarterly payments, what should this payment be? (Round off interest rate to five decimal places ) Note: use the reference formulas to solve this

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In solving, indicate the Cash Flow Diagram and Solution A man bought a ford vintage car for Php 526630 on installment basis at the rate of 12% per year compounded annually on the unpaid balance. if he paid a down payment of Php 138146 in cash and proposes to pay the balance in 24 quarterly payments, what should this payment be? (Round off interest rate to five decimal places ) Note: use the reference formulas to solve this
Annuity Formula UNIFORM SERIES PRESENT WORTH FACTOR (P/A) P = A (P/A, 1%, n) 1−(1+i)¯n¸ P =A[¹ −( i UNIFORM SERIES CAPITAL RECOVERY FACTOR (A/P) A=P (A/P, 1%, n) i A=P[₁(1+i)
Transcribed Image Text:Annuity Formula UNIFORM SERIES PRESENT WORTH FACTOR (P/A) P = A (P/A, 1%, n) 1−(1+i)¯n¸ P =A[¹ −( i UNIFORM SERIES CAPITAL RECOVERY FACTOR (A/P) A=P (A/P, 1%, n) i A=P[₁(1+i)
Annuity Formula UNIFORM SERIES COMPOUND AMOUNT FACTOR (F/A) F = A (F/A, 1%, n) ‚(1+i)”−1- F =A[(¹+1)"=1] i UNIFORM SERIES SINKING FACTOR (PIA) A = F (A/F, 1%, n) i ¯(1+i)n−1- A= F [
Transcribed Image Text:Annuity Formula UNIFORM SERIES COMPOUND AMOUNT FACTOR (F/A) F = A (F/A, 1%, n) ‚(1+i)”−1- F =A[(¹+1)"=1] i UNIFORM SERIES SINKING FACTOR (PIA) A = F (A/F, 1%, n) i ¯(1+i)n−1- A= F [
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