3. You are buying your first car and need to borrow P830,650 over 5 years. If interest is 6%, what are your monthly payments?

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 11E
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Please answer my 2 question..
3. You are buying your first car and need to borrow
P830,650 over 5 years. If interest is 6%, what are
your monthly payments?
4. An investment option is available with continuous
compounding at 5% interest. If you invest P8,000
now, how much interest income will you earn if you
cash out in 3.5 years?
Transcribed Image Text:3. You are buying your first car and need to borrow P830,650 over 5 years. If interest is 6%, what are your monthly payments? 4. An investment option is available with continuous compounding at 5% interest. If you invest P8,000 now, how much interest income will you earn if you cash out in 3.5 years?
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