2. A car was bought on an installment basis with a monthly installment of P30.000 for 60 months. If the rate is 12% compounded annually, calculate the cash price of the car. (10 pts) a. P1.396.619 b. P1,693,619 C. P1,379,916 d. P1,367.634

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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2. A car was bought on an installment basis with a monthly installment of P30.000 for 60 months. If the
rate is 12% compounded annually, calculate the cash price of the car. (10 pts)
a. P1.396.619
b. P1,693,619
c. P1,379,916
d. P1.367.634
Transcribed Image Text:2. A car was bought on an installment basis with a monthly installment of P30.000 for 60 months. If the rate is 12% compounded annually, calculate the cash price of the car. (10 pts) a. P1.396.619 b. P1,693,619 c. P1,379,916 d. P1.367.634
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