The purchase of a new car requires P100,000 down payment and the balance to be paid at P300,000 after 2 years and P600,000 after 5 years. The rate of interest is 18% compounded monthly. a. Find the...


The purchase of a new car requires P100,000<br>down payment and the balance to be paid at<br>P300,000 after 2 years and P600,000 after 5<br>years. The rate of interest is 18%<br>compounded monthly.<br>a. Find the present worth of the car.<br>b. Find the lump sum payment if the car is<br>paid after 5 years.<br>c. With a downpayment of P100,000 and<br>monthly interest of 1.50%, find the monthly<br>amortization for the 5 years.<br>

Extracted text: The purchase of a new car requires P100,000 down payment and the balance to be paid at P300,000 after 2 years and P600,000 after 5 years. The rate of interest is 18% compounded monthly. a. Find the present worth of the car. b. Find the lump sum payment if the car is paid after 5 years. c. With a downpayment of P100,000 and monthly interest of 1.50%, find the monthly amortization for the 5 years.

Jun 11, 2022
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