A machine costs ₱60,000 if paid in cash. On the installment plan, a purchaser should pay ₱20,000 down payment and 10 quarterly installments, the first due at the end of the first year after purchase. If money is worth 15% compounded semi-annually, determine the quarterly installment.

A machine costs ₱60,000 if paid in cash. On the installment plan, a purchaser should pay ₱20,000 down payment and 10 quarterly installments, the first due at the end of the first year after purchase. If money is worth 15% compounded semi-annually, determine the quarterly installment.

Fundamentals Of Construction Estimating

4th Edition

ISBN:9781337399395

Author:Pratt, David J.

Publisher:Pratt, David J.

Chapter9: Pricing Construction Equipment

Section: Chapter Questions

Problem 6RQ

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