Solution-What is yearly amortization if all payments are to

What is yearly amortization if all payments are to be made

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Reference no: EM132819269

Problem 1: Mrs. Lumiart bought a brand new washing machine costing P12,000 if paid in cash. However, she can purchase it on installment basis to be paid within 5 years. If money is worth 8% compounded annually, what is her yearly amortization if all payments are to be made at the beginning of each year?

a. P2,782.85
b. P2,872.58
c. P2,400.00
d. P2,827.58

Reference no: EM132819269

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What is yearly amortization if all payments are to be made

Reference no: EM132819269

Reference no: EM132819269

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