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Determine total amount that each officer will to shoulder

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Reference no: EM132557881

Question 1: A company has approved a car plan for its six senior officers in which the company will shoulder 25% of the cost and the difference payable by each officer to a financing company in 48 equal end of the month installments at an interest rate of 1.5% per month. if the cost of each car is Php 350,000, determine the following:

A. The total amount that each officer will have to shoulder.

B. The amount each officer has to pay the financing company per month.

Reference no: EM132557881

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