Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help me guys for my quiz. i need answer asap 5. M purchased a small lot in a subdivision, paying P200,000 down and promising
please help me guys for my quiz. i need answer asap
5. M purchased a small lot in a subdivision, paying P200,000 down and promising to pay P15,000 every 3 months for the next 10 years. The seller figured interest at 12% compounded quarterly. a. What was the cash price of the lot? b. If M missed the first 12 payments, what must he pay at the time the 13th is due to bring him up to date? c. After making 8 payments, M wished to discharge his remaining indebtedness by a single payment at the time when the 9th regular payment was due, what must he pay in addition to the regular payment then due? d. If M missed the first 10 payments, what must he pay when the 11th payment is due to discharge his entire indebtednessStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started