You want to purchase a 2nd hand MacBook Pro but you can’t pay it in cash. You agreed to pay it in installment and give the initial payment on the day of the purchase of ₱7,000 and ₱7,000 monthly for 2 years. The previous owner agreed to this if you’ll give him 10% interest. Its accumulated price is 168,000. How much will be your down payment? (Note: Compounded semi-annually)
You want to purchase a 2nd hand MacBook Pro but you can’t pay it in cash. You agreed to pay it in installment and give the initial payment on the day of the purchase of ₱7,000 and ₱7,000 monthly for 2 years. The previous owner agreed to this if you’ll give him 10% interest. Its accumulated price is 168,000. How much will be your down payment? (Note: Compounded semi-annually)
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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You want to purchase a 2nd hand MacBook Pro but you can’t pay it in cash. You agreed to pay it in installment and give the initial payment on the day of the purchase of ₱7,000 and ₱7,000 monthly for 2 years. The previous owner agreed to this if you’ll give him 10% interest. Its accumulated price is 168,000. How much will be your down payment? (Note: Compounded semi-annually)
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