Lukas Center acquired a new Laser Machine worth ₱580,000.00. The center plans to pay 35% advance payment and the balance by quarterly payments for 7 years. Money is worth 9% converted quarterly. a.)How much is the balance that must be amortized every three months? b.)How many quarterly payments must be made to settle the obligation? c) what is the amount of the quarterly payments?
Lukas Center acquired a new Laser Machine worth ₱580,000.00. The center plans to pay 35% advance payment and the balance by quarterly payments for 7 years. Money is worth 9% converted quarterly. a.)How much is the balance that must be amortized every three months? b.)How many quarterly payments must be made to settle the obligation? c) what is the amount of the quarterly payments?
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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Lukas Center acquired a new Laser Machine worth ₱580,000.00.
The center plans to pay 35% advance payment and the balance by quarterly
payments for 7 years. Money is worth 9% converted quarterly.
a.)How much is the balance that must be amortized every three months?
b.)How many quarterly payments must be made to settle the obligation?
c) what is the amount of the quarterly payments?
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