Board Exam Reviewers with Random Questions

Civil Engineering Reviewers

Mathematics

An employee is earning P12,000 a month and he can only afford to purchase a car which will require a down payment of P10,000 and a monthly amortization of not more than 30% of his monthly salary. What would be the maximum cash value of a car he can purchase if the seller will agree to a down payment of P10,000 and the balance in four (4) years at 18% per year payable on monthly basis. The first payment will be due at the end of the first month.



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