Engr. Abcde buys a ring which costs P120,000 if paid in cash. It also available to purchase it eight equal monthly installment, each installment payable at the beggining of each period. If the rate of interest is 8% compound monthly, how much should the monthly payment be? options: 19334.97 15351.15 20881.77 15453.49
Engr. Abcde buys a ring which costs P120,000 if paid in cash. It also available to purchase it eight equal monthly installment, each installment payable at the beggining of each period. If the rate of interest is 8% compound monthly, how much should the monthly payment be? options: 19334.97 15351.15 20881.77 15453.49
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Engr. Abcde buys a ring which costs P120,000 if paid in cash. It also available to purchase it eight equal monthly installment, each installment payable at the beggining of each period. If the rate of interest is 8% compound monthly, how much should the monthly payment be?
options: 19334.97
15351.15
20881.77
15453.49
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