Bernard purchases a sports car for P5,300,000. He makes P1,000,000 down payment and finances the remaining amount for 4 years at an annual interest rate of 8.4%. The sales tax is 6.4% of the selling price. Find the monthly payment.

Suppose Francis purchased a car for a total price of P550,000, including taxes, and finance the amount for 3 years at an annual interest rate of 7.5%. (a) Find the monthly payment. (b) What is the total amount of interest paid over the term of the loan?

Suppose Antonietta has a five-year car loan at annual interest rate of 9.3% and a monthly payment of P28,100. After 5 years, she decided to purchase a new car. What is the payoff of the loan?

Virlyn has a four-year loan at an annual interest rate of 9% and a monthly payment of P27,250. After 1 year, Virlyn decides to purchase a new car. What is the payoff on her loan? 5. Marcon has a two-year loan at an annual interest rate of 9.3% and a monthly payment of P4,120. After 1 year and 6 months, Marcon decides to purchase a motorcycle. What is the payoff on his loan?

Answer rating: 100% (QA)

Answer 1 Bernards Car Purchase Down payment P1000000 Financed amount P5300000 P1000000 P4300000 Loan ... View the full answer