In buying a car, Amiel pays P 210,000.00 cash and agrees to pay P790,000.00 for 4 years

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In buying a car, Amiel pays P 210,000.00 cash and agrees to pay P790,000.00 for 4 years at 12% interest compounded monthly.

Required

1. Find the cash value of the car.

2. Which is better for the depositor, an account that yields 15% compounded annually or 12% compounded monthly?

Related Book For answer-question

Business Statistics

ISBN: 978-0321925831

3rd edition

Authors: Norean Sharpe, Richard Veaux, Paul Velleman

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Posted Date: Mar 31, 2022 03:38 AM

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In buying a car, Amiel pays P 210,000.00 cash and agrees to pay P790,000.00 for 4 years

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Expert Answer:

value of the car A 210000 790000 After 4 years If A 1000000 A P1 rnnt A 790000 1 001 48 A 1273658... View the full answer

Business Statistics

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