The cash price of a motorcycle is Php325,000. A fixed amount is to be paid at every end of the month for 1.5 years. Find the monthly payment if the interest charged is 9% compounded monthly? O Php21,136.37 O Php18,995.55 Php19,369.24 Php21,205.42
The cash price of a motorcycle is Php325,000. A fixed amount is to be paid at every end of the month for 1.5 years. Find the monthly payment if the interest charged is 9% compounded monthly? O Php21,136.37 O Php18,995.55 Php19,369.24 Php21,205.42
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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![The cash price of a motorcycle is Php325,000. A fixed amount is to be paid at every
end of the month for 1.5 years. Find the monthly payment if the interest charged is
9% compounded monthly?
O Php21,136.37
O Php18,995.55
O Php19,369.24
O Php21,205.42](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F47c99073-8ad3-48a4-8223-56c2c82fdab4%2F2de81905-223b-496a-9fb6-8716f440eb6f%2F7ovogmvo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The cash price of a motorcycle is Php325,000. A fixed amount is to be paid at every
end of the month for 1.5 years. Find the monthly payment if the interest charged is
9% compounded monthly?
O Php21,136.37
O Php18,995.55
O Php19,369.24
O Php21,205.42
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