1. **State the problem:** A man pays a 10% down payment of 200000 for a house and lot. The remaining 90% balance is paid in monthly installments over 60 months with an interest rate of 15% compounded monthly. We need to find the monthly payment amount in Pesos, rounded to the nearest 10 cents. 2. **Identify the known values:** - Principal (loan amount) $P = 0.90 \times 200000 = 180000$ - Annual interest rate $r = 15\% = 0.15$ - Monthly interest rate $i = \frac{0.15}{12} = 0.0125$ - Number of payments $n = 60$ 3. **Formula for monthly payment on an amortized loan:** $$ M = P \times \frac{i(1+i)^n}{(1+i)^n - 1} $$ where $M$ is the monthly payment. 4. **Calculate $(1+i)^n$:** $$ (1+0.0125)^{60} = 1.0125^{60} $$ Using a calculator, $1.0125^{60} \approx 2.11383$ 5. **Substitute values into the formula:** $$ M = 180000 \times \frac{0.0125 \times 2.11383}{2.11383 - 1} = 180000 \times \frac{0.0264229}{1.11383} $$ 6. **Simplify the fraction:** $$ \frac{0.0264229}{1.11383} \approx 0.02372 $$ 7. **Calculate monthly payment:** $$ M = 180000 \times 0.02372 = 4269.6 $$ 8. **Round to nearest 10 cents:** $$ \boxed{4269.60} $$ **Answer:** The monthly payment is 4269.60 Pesos.