
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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The purchase of a new car requires P100,000 down payment and the balance to be paid at P300,000 after 2 years and P600,000 after 5 years. The rate of interest is 18% compounded monthly.
a. Find the present worth of the car.
b. Find the lump sum payment if the car is paid after 5 years.
c. With a downpayment of P100,000 and monthly interest of 1.50%, find the monthly amortization for the 5 years.
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