Problem 9: A young engineer bought second hand car worth 15B, CDE.00 if paid in cash. On the installment basis, he paid a down payment of 5A,BCD.00; 3B, CDE.00 at the end of one year; 4C, DEA.00 at the end of 2 years and a final payment at the end of 4 years. What will be the final payment if the money worth 15% per annum?
Problem 9: A young engineer bought second hand car worth 15B, CDE.00 if paid in cash. On the installment basis, he paid a down payment of 5A,BCD.00; 3B, CDE.00 at the end of one year; 4C, DEA.00 at the end of 2 years and a final payment at the end of 4 years. What will be the final payment if the money worth 15% per annum?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Problem 9
A=1
B=5
C=7
D=6
E=8
Direction: Please answer it correctly. List the given, required and solution that will be use. Complete the steps and solution. Provide graph if necessary and box the final answers. .
Transcribed Image Text:Problem 9: A young engineer bought second
hand car worth 15B, CDE.00 if paid in
cash. On the installment basis, he paid a
down payment of 5A,BCD.00; 3B, CDE.00 at
the end of one year; 4C, DEA.00 at the end
of 2 years and a final payment at the end
of 4 years. What will be the final
payment if the money worth 15% per annum?
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