Polly purchased 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% compound monthly. What is the periodic rate? 1% 12% 0.01% 2% How many payments must be made? 12 24 6 48 What is the equivalent cash price of the car? ₱210,945.35 ₱340,091.59 360,945.35 ₱490,091.59

Polly purchased 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% compound monthly. What is the periodic rate? 1% 12% 0.01% 2% How many payments must be made? 12 24 6 48 What is the equivalent cash price of the car? ₱210,945.35 ₱340,091.59 360,945.35 ₱490,091.59

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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