Self-paced Activity Solve the following problem. Mr. Marcelo bought a car, after paying the down payment, the amount of the loan is P400,000 with an interest rate of 9% compounded monthly. The term of the loan is 3 years. How much is the monthly payment?
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Answer:
n(n+1) = 5500×24/100 = 1332
n²+n-1332 =0
n²+37n-36n-1332=0
(n-36 )(n+37)
n36
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