The cash price of a motorcycle is Php325,000. A fixed amount is to be paid at every end of the month for 1.5 years. Find the monthly payment if the interest charged is 9% compounded monthly? O Php21,136.37 O Php18,995.55 O Php21,205.42 O Php19,369.24

The cash price of a motorcycle is Php325,000. A fixed amount is to be paid at every end of the month for 1.5 years. Find the monthly payment if the interest charged is 9% compounded monthly? O Php21,136.37 O Php18,995.55 O Php21,205.42 O Php19,369.24

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...

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Question

The cash price of a motorcycle is Php325,000. A fixed amount is to be paid at every end of the month for 1.5 years. Find the monthly payment if
the interest charged is 9% compounded monthly?
O Php21,136.37
O Php18,995.55
O Php21,205.42
O Php19,369.24

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