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Suppose you purchase an automobile for a selling price of P1,600,000. You make a down payment of 5% of the selling price and finance the

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Suppose you purchase an automobile for a selling price of P1,600,000. You make a down payment of 5% of the selling price and finance the remaining balance for 4 years at an annual interest rate of 5%. The sales tax is 75% of the selling price, and the license fee is 0.8% of the selling price. Find the monthly payment. P38.842.50 O P7.619 OP38,063 239,752 P36.847

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