Polly purchased a car. She paid ₱150,000 as down payment and pays ₱5,500 at the end of each month for 48 months. If the interest is 7.8% compounded monthly, how much was the car worth?
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Polly purchased a car. She paid ₱150,000 as down payment and pays ₱5,500 at the end of each month for 48 months. If the interest is 7.8% compounded monthly, how much was the car worth?
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- Polly purchased a car. She paid ₱250,000 as down payment, and ₱15,000 payable at the beginning of each month for 48 months. If money is worth 12% compounded monthly, what is the equivalent cash price of the car?Polly purchased a car. She paid ₱150,000.00 as down payment, and₱5,500.00 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly. What is the periodic rate? How many payments must be made? What is the equivament cash price of the car?Polly purchased a car. She paid ₱150,000.00 as down payment, and ₱5,500.00 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly.What is the periodic rate? How many payments must be made? What is the equivalent cash price of the car?
- Panpan purchased a car. She paid ₱150,000.00 as down payment, and ₱5,500.00 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly. What is the equivalent cash price of the car?Panpan purchased a car. She paid ₱150,000.00 as down payment, and ₱5,500.00 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly. How many payments must be made?Panpan purchased a car. She paid ₱250,000.00 as down payment, and ₱5,500.00 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly. Compute the periodic rate, how many payments should be made? and what is the equivalent cash price of the car?
- Carie purchased a car for $49,000; she paid $4900 as a down payment and financed the balance amount at 3.5% compounded monthly for 4.5 years. If Carie pays an additional $200 per month, how much interest will be saved?Lupe made a down payment of $8000 towards the purchase of a new car. To pay the balance of the purchase price, she has secured a loan from her bank at the rate of 12% compounded monthly. Under the terms of her finance agreement, she is required to make payments of $420 per month for 36 months. What is the cash price of the car?Kristine bought a smartphone worth Php72,000 and made a downpayment of Php15,000. The remaining balance must be paid every 6 months for 3 years. How much is her regular payment if the interest rate is 3% compounded semi-annually
- Polly purchased a car. She paid ₱150,000.00 as down payment, and₱5,500.00 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly.a.) What is the periodic rate?b.) How many payments must be made?c.) What is the equivalent cash price of the car?While buying a new car, Mitchell made a down payment of $1,000 and agreed to make month-end payments of $240 for the next 4 years and 9 months. He was charged an interest rate of 1% compounded semi-annually for the entire term. a. What was the purchase price of the car? b. What was the total amount of interest paid over the term?Kristine bought a smartphone worth Php72,000 and made a downpayment of Php15,000. The remaining balance must be paid every 4 months for 3 years. How much is her regular payment if the interest rate is 3% compounded every 4 months?
