Mr. Lee purchased a small condominium. He paid P350,000 as a down payment and agreed to pay P35,000 every 3 months for 5 years. The car seller figured interest is at 12% compounded quarterly. What is the prize of the condominium? a) P 870,711.62 b) P 809,017.02 c) P 940,463.11 d) P 520,711.62
Mr. Lee purchased a small condominium. He paid P350,000 as a down payment and agreed to pay P35,000 every 3 months for 5 years. The car seller figured interest is at 12% compounded quarterly. What is the prize of the condominium? a) P 870,711.62 b) P 809,017.02 c) P 940,463.11 d) P 520,711.62
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 8Q
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Mr. Lee purchased a small condominium. He paid P350,000 as a down payment and agreed to pay P35,000 every 3 months for 5 years. The car seller figured interest is at 12% compounded quarterly. What is the prize of the condominium?
a) P 870,711.62
b) P 809,017.02
c) P 940,463.11
d) P 520,711.62
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