Question
A car was bought with a down payment of P300,000 and P20,000 at the end of every month for 3 years to discharge all principal
A car was bought with a down payment of P300,000 and P20,000 at the end of every month for 3 years to discharge all principal and interest rate of 12% compounded monthly. Find the cash price of the car.
The monthly rent of an apartment is P18,000 payable at the beginning of each month. If money is worth 15% compounded monthly, what is the cash equivalent of 3 years rent?
Step by Step Solution
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Step: 1
To find the cash price of the car we need to calculate the total amount of money paid over ...
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Step: 2
Step: 3
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
