A Honda car can be purchased by paying a down payment of P150,000 and the balance to be paid with two installments, the first installment to be after two years and the other which is twice than the first installment would be after another 3 years If the car could be acquired with 10 down payment and the 3,000 balance to be paid with 12 monthly installments of P40,000, determine the amount of the first and second installments of the 1st option if the interest rate is 15% compounded semiannually.

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As per given details please refer below answer In given details mentioned that car could be acquired by paying 40000 monthly installment for 12 months ... View the full answer