A Honda car can be purchased by paying a down payment of P150,000 and the balance to be paid with two installments, the first installment to be after two years and the other which is twice than the...

A Honda car can be purchased by paying a down payment of P150,000 and the balance to be paid with
two installments, the first installment to be after two years and the other which is twice than the first
installment would be after another 3 years. If the car could be acquired with 10% down payment and the
balance to be paid with 12 monthly installments of P40,000, determine the amount of the first and second
installments of the 1st option if interest rate is 15% compounded semiannually