SOLUTION: I need some help in soving this problem..those who are kind-hearted, kindly help me.....thanks in advance..Here it goes.... A man buys a car priced at P330 000. He agrees to pay

Question 222023: I need some help in soving this problem..those who are kind-hearted, kindly help me.....thanks in advance..Here it goes....
A man buys a car priced at P330 000. He agrees to pay each month, beginning one month after the purchase date, P10 000 on the debt plus an interest charge of 1% of the debt outstanding during the month. Find the total amount of interest which the buyer will pay.
Thanks...i will be very glad to those who will respond.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=P(1+.01)^33
A=330000(1.01)^33
A=330000(1.388690)
A=458267.73
i=458267.73-330000=$128,267.73
1% per mo is 12% per yr
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