Question
A man purchased a car with a cash price of P350,000. He was able to negotiate with the seller to allow him to pay only
A man purchased a car with a cash price of P350,000. He was able to negotiate with the seller to allow him to pay only a down-payment of 20% and the balance payable in equal 48 end of the month installment at 1.5% interest per month. On the day he paid the 20th installment, decided to pay the remaining balance. How much is the monthly payment and what is the remaining balance that he paid?
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Step: 1
Find the down payment amount Down payment Cash price x Percentage Down payment P 350000 x 20 P 70000 ...
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
9780078025525, 9780077517359, 77517350, 978-0077398194
