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Mr. Cruz is very excited to own a brand new Honda Civic. The Honda is selling this car for P800,000. The required down-payment is 20%
Mr. Cruz is very excited to own a brand new Honda Civic. The Honda is selling this car for P800,000. The required down-payment is 20% of the selling price. BDO is willing to finance the unit at 12% p.a. interest. Mr. Cruz wants to pay the loan on a quarterly basis good for two years only. Compute for the quarterly payments of the loan for two years. Prepare a loan amortization schedule (table) to support the computation (round off answers to P1.00).
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