Renz has P 50,000 cash for his tuition fee payment for one semester. The university requires on 20% down payment for his full load subjects. His friend, Juancho, has the same amount of money for the same purpose. However, their friend Clinton after enrolling the same number of units revealed that he invested the remaining money to his aunt who would pay 5% interest per month for five months after paying the 20% down payment. He is planning to pay the balance at the end of the semester with 10% surcharge based on the unpaid balance. Assume that Clinton’s aunt is close to Renz and Juancho and trying to convince them to do the same like what Clinton did. What would you recommend to Renz and Juancho? And why? Justify your answers.
Renz has P 50,000 cash for his tuition fee payment for one semester. The university requires on 20% down payment for his full load subjects. His friend, Juancho, has the same amount of money for the same purpose. However, their friend Clinton after enrolling the same number of units revealed that he invested the remaining money to his aunt who would pay 5% interest per month for five months after paying the 20% down payment. He is planning to pay the balance at the end of the semester with 10% surcharge based on the unpaid balance. Assume that Clinton’s aunt is close to Renz and Juancho and trying to convince them to do the same like what Clinton did. What would you recommend to Renz and Juancho? And why? Justify your answers.
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