An enterprising engineer purchased a fleet of second-hand trucks for Php78,000. Payment was made by an immediate cash payment of Php5,000 and twelve month-end payments of Phpó,486 each. Another dealer...

Extracted text: An enterprising engineer purchased a fleet of second-hand trucks for Php78,000. Payment was made by an immediate cash payment of Php5,000 and twelve month-end payments of Phpó,486 each. Another dealer offered to finance the same purchase at an interest rate of 0.75% per month on the unpaid balance. Which offer should the engineer accept?