Question 1190417
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A casette recorder for P5,600 is to be paid by equal {{{highlight(monthly)}}} installments for one year. 
If the rate of interest is 20% simple interest per annum, how much is the monthly installment?
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It is  {{{(5600 + 0.2*5600)/12}}} = {{{(1.2*5600)/12}}} = {{{5600/10}}} = 560.    <U>ANSWER</U>
</pre>

Solved.