A television set can be bought by 12 monthly payments of P800.00. Money worth to the appliance store is 24% compounded monthly. What is the cash value of the appliance? A. ₱7,820.50 B. ₱8,460.27 C. ₱8,990.22 D. ₱7,330.25

A television set can be bought by 12 monthly payments of P800.00. Money worth to the appliance store is 24% compounded monthly. What is the cash value of the appliance? A. ₱7,820.50 B. ₱8,460.27 C. ₱8,990.22 D. ₱7,330.25

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A television set can be bought by 12 monthly payments of P800.00. Money worth to the appliance store is 24% compounded monthly. What is the cash value of the appliance?

A. ₱7,820.50

B. ₱8,460.27

C. ₱8,990.22

D. ₱7,330.25

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