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What was the cash price of the said property

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Reference no: EM132642662

A certain property was purchased at an instalment basis wherein the buyer needs to pay 30% of the cash price as down payment. Remaining balance be paid within the period of two years in four payments at the end of every semi-annual. The first payment amounts to P525,000.00, second payment amounts to P600,000.00, third payment amounts to P470,000.00 and the last payment at an amount of P385,500.00. If money is worth 12% compounded quarterly,

Question a) what was the cash price of the said property?

Question b) What was the amount of the down payment?

Reference no: EM132642662

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