Question

3. Paul's father will pay for his new car in 60-month payments. If his car loan costs ₱ 1, 023, 660, then how much will he pay for each month?

Answer 1

Car Loan Costs :

1,023,660

No. of Months to pay payments :

60 months

He Pay For Each Month :

$= \frac{1023660}{60} \\ = 17061 \: \: \: \: \:$

Therefore, He should Pay 17,061 for each months.

$\huge\sf\implies{Thanks : ❤}$

Answer 2

Given:

Paul's father will pay for his new car in 60-month payments.

The car loan costs ₱ 1, 023, 660

To find:

The amount of money to be paid for each month.

Solution:

The car loan costs ₱ 1, 023, 660

Paul's father will pay for his new car in 60-month payments.

So, Paul's father have to pay  ₱ 1, 023, 660 in 60 months.

Therefore,

The amount of money have to be paid by Paul's father each month is,

Total cost / Number of months

$\frac{1,023,660}{60}$ = 17,061

Paul's father have to pay  ₱ 17,061 every month.

Final answer:

The amount of money have to be paid by Paul's father each month is

₱ 17,061