bought a smartphone worth Php72,000 and made a downpayment of Php15,000. The remaining balance must be paid every 4 months for 3 years. How much is her regular payment if the interest rate is 3% compounded every 4 mont

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Kristine bought a smartphone worth Php72,000 and made a downpayment of Php15,000. The remaining balance must be paid every 4 months for 3 years. How much is her regular payment if the interest rate is 3% compounded every 4 months?

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