Nathan would like to buy a new car worth PhP 1,200,000.00. He decided to take an from a car dealership which charges 12% compounded monthly payable in 5 years. How much will be his monthly payment? Group of answer choices   a. Php 26,693.34 b. Php 20,200.00 c. Php 36,333.93 d. Php 14,693.38

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Nathan would like to buy a new car worth PhP 1,200,000.00. He decided to take an from a car dealership which charges 12% compounded monthly payable in 5 years. How much will be his monthly payment?
Group of answer choices
 
a. Php 26,693.34
b. Php 20,200.00
c. Php 36,333.93
d. Php 14,693.38
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