1. A man paid 10% down-payment of P200000 for a house and lot and agreed to pay the 90% balance on monthly installment for 60 months at an interest rate of 15% compounded monthly. Compute the amount of the monthly payment.

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
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Pls show the given and the solution not excel thanks! ALSO SHOW THE CASH FLOW

1. A man paid 10% down-payment of P200000 for a house and lot and agreed to pay the 90%
balance on monthly installment for 60 months at an interest rate of 15% compounded monthly.
Compute the amount of the monthly payment.
Transcribed Image Text:1. A man paid 10% down-payment of P200000 for a house and lot and agreed to pay the 90% balance on monthly installment for 60 months at an interest rate of 15% compounded monthly. Compute the amount of the monthly payment.
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