Mathematics, 01.05.2021 03:50 sloansters9315

Panpan purchased a car. She paid ₱250,000.00 as down payment, and ₱5,500.00 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly. Compute the periodic rate, how many payments should be made? and what is the equivalent cash price of the car?

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Panpan purchased a car. She paid ₱250,000.00 as down payment, and ₱5,500.00 payable at the beginning...

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Panpan purchased a car. She paid ₱250,000.00 as down payment, and ₱5,500.00 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly. Compute the periodic rate, how many payments should be made? and what is the equivalent cash price of the car?​

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Another question on Mathematics

Panpan purchased a car. She paid ₱250,000.00 as down payment, and ₱5,500.00 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly. Compute the periodic rate, how many payments should be made? and what is the equivalent cash price of the car?