3. A car costing P1.2M is to be paid off by monthly paymentsover five years at a 10% annual interest rate. The sales tax iso6% of the purchase cost and the down payment made isTOP120,000. How much is the monthly amortization? soslqor

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Answered: . dA car costing P1.2M is to be paid…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...

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Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600
A car costing ₱1.2M is to be paid off by monthly payments over five years at a 10% annual interest rate. The sales tax is 6% of the purchase cost and down payment made is ₱120,000. How much is the monthly amortization?
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. dA car costing P1.2M is to be paid off by monthly payments over five years at a 10% annual interest rate. The sales tax is o6% of the purchase cost and the down payment made is P120,000. How much is the monthly amortization? soslqor