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Tony was given 3 million Php in cash from a friend who decided to be a monk. In addition to this gift, he also has a clay sculpture business that gives him a revenue of 200,000 Php per month. The operating expenses of his business is 150,000 Php per month while his personal consumption expenditure is 35,000 Php per month.
a. How much is Tony's wealth initially?
b. How much is Tony's gross income per year?
c. Is Tony's wealth increasing or decreasing? Why?
d. Given the information above, when can Charles afford to buy a car which costs 5 million Php, assuming a zero interest and inflation rate?
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