A man purchases a car for P65,000 and pays P20,000 down payment. The balance, with interest at 5 1/2% compounded semiannually, will be amortized for the next 4 years. Find: the semiannual payment the remaining debt at the end of 3 years; the OP just after the 5th payment.
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. A man purchases a car for P65,000 and pays P20,000 down payment. The balance, with interest at 5 1/2% compounded semiannually, will be amortized for the next 4 years. Find:
- the semiannual payment
- the remaining debt at the end of 3 years;
- the OP just after the 5th payment.
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