Mr. Isidro borrowed P1,150,000.00 for the purchase of his car. If his monthly payment is P25,000.00 on a 5-year mortgage, what is the total amount of interest? a. 350 000 b. 360 000 c. 370 000 d. 380 000

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 13E
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Mr. Isidro borrowed P1,150,000.00 for the purchase of his car. If his monthly payment is P25,000.00 on a 5-year mortgage, what is the total amount of interest?

a. 350 000

b. 360 000

c. 370 000

d. 380 000

 

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