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Bingo is planning to buy a new mobile phone that cost P 1 2 0 , 0 0 0 . He was given an option

Bingo is planning to buy a new mobile phone that cost

P 120, 000 .

He was given an option to pay on installment basis at the rate of

6 %

for

12

months. Determine the monthly amortization and construct the

12 -

month amortization schedule.

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