Yukihira paid a 10% down payment of P200,000 for a restaurant and agreed to pay the balance of monthly installment for 60 months at an interest rate of 15% compounded monthly. What is the monthly installment? O P47,491.04 O P42,821.8 P44,372.07 P49,770.65

Yukihira paid a 10% down payment of P200,000 for a restaurant and agreed to pay the balance of monthly installment for 60 months at an interest rate of 15% compounded monthly. What is the monthly installment? O P47,491.04 O P42,821.8 P44,372.07 P49,770.65

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 9P

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Question

Yukihira paid a 10% down payment of P200,000 for a restaurant and agreed to
pay the balance of monthly installment for 60 months at an interest rate of 15%
compounded monthly. What is the monthly installment?
P47,491.04
P42,821.8
P44,372.07
P49,770.65

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