An electric motor has a cash price of Php 8000. It can also be bought on installment basis with down payment of Php2000 and with periodic equal payments at the end of every 6 months for 5 yrs if interest is fixed at 8% compounded semi-annually, how much is each periodic payment? a.) Php 739.75 b.) Php 439.56 c.) Php 874.32 d.) Php 122.56

An electric motor has a cash price of Php 8000. It can also be bought on installment basis with down payment of Php2000 and with periodic equal payments at the end of every 6 months for 5 yrs if interest is fixed at 8% compounded semi-annually, how much is each periodic payment? a.) Php 739.75 b.) Php 439.56 c.) Php 874.32 d.) Php 122.56

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 9P

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