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Vevienne bought a house and lot for 1,500,000 but paid in installments. She paid 500,000 as a downpayment, 300,000 after the first year, and 400,000 after the second year but did not pay in the third year. The question asks to calculate the final payment if the annual interest is 14%.

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Michelle Gozon
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55 views1 page

Sample Problem

Vevienne bought a house and lot for 1,500,000 but paid in installments. She paid 500,000 as a downpayment, 300,000 after the first year, and 400,000 after the second year but did not pay in the third year. The question asks to calculate the final payment if the annual interest is 14%.

Uploaded by

Michelle Gozon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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VEVIENNE BUYS A HOUSE AND LOT WORTH 1,500,000 IF PAID IN CASH.

ON INSTALLMENT BASIS, SHE PAYS 500,000 DOWNPAYMENT; 300,000 AT


THE END OF THE 1ST YEAR; 400,000 AT THE END OF THE 2ND YEAR; DID
NOT PAY ON THE 3RD YEAR AND A FINAL PAYMENT ON THE 4TH YEAR.
HOW MUCH IS THE FINAL PAYMENT IF THE INTEREST IS 14% PER
ANNUM?

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