A man purchased a car with a cash price of P 350,000. He was able to negotiate with the seller to allow him to pay only a downpayment of 20% and the balance payable in equal 48 end of the month installment at 1.5% interest per month. One the day he paid the 20th installment, he decided to pay monthly payment. What is the remaining balance that he paid?
The downpayment is 20% of P350,000, which is equal to P350,000 x 0.20 = P70,000.
So the total balance to be paid is P350,000 - P70,000 = P280,000.
The 48 equal installments at 1.5% interest per month is given as 48 x 1.5% = <<48*1.5*.01=0.72>>0.72.
After 20th installment, the remaining number of payments to be made is 48 - 20 = <<48-20=28>>28.
So the remaining balance to be paid after 20th installment is 28 x 0.72 = <<28*0.72=20.16>>20.16.
Therefore, the remaining balance that the man paid is P20.16. Answer: \boxed{20.16}.