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ana purchased a smart tv set through the credit cooperative of their company .her monthly payment is computed as P 3800 payable in 12 months .how much is the cash valueof the television set if the interest rate is 12% convertible monthlyg​

Sagot :

EHBOBIASIN

Step-by-step explanation:

Given:

R=3,800

m=12

i(12)=0.12

k=1

n=12

j=0.12/12 is equal to 0.01

Find: P=?

Solution:

P=R[1-(1+j)^-(k+n)/j] - R[1-(1+j)^k/j

P=42,345.84

Answer: The present value is P42,345.84

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