A furniture set is purchased with a downpayment of 75,000 php, and the balance at 10,000 php a month for 2 years. What is its cash price if the interest rate is 18% compounded monthly? A 275,403.50 Php B 275, 304.50 Php 275,304.05 Php 275,403.05 Php

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
icon
Related questions
Question

help 

A furniture set is purchased with a downpayment of 75,000 php, and the balance at 10,000 php a month
for 2 years. What is its cash price if the interest rate is 18% compounded monthly?
A 275,403.50 Php
B
275, 304.50 Php
275,304.05 Php
275,403.05 Php
Transcribed Image Text:A furniture set is purchased with a downpayment of 75,000 php, and the balance at 10,000 php a month for 2 years. What is its cash price if the interest rate is 18% compounded monthly? A 275,403.50 Php B 275, 304.50 Php 275,304.05 Php 275,403.05 Php
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax