1. Find the amount of a Php 100 ordinary annuity payable every month for 2 years if money is worth 5% converted monthly. 2. John bought a car. If it was purchased under the following terms: Php 65,000 down payment and Php 5,000 every month for 5 years. If money is worth 7% compounded monthly, find the cash price of the car. 3. Every 6 months for 8 years, an eldest sister deposits Php 2,800 in a company for his youngest sibling's education. If the money earns at 16% compounded semi annually, how much will be in the fund after the 4th deposit? After the last deposit?
1. Find the amount of a Php 100 ordinary annuity payable every month for 2 years if money is worth 5% converted monthly. 2. John bought a car. If it was purchased under the following terms: Php 65,000 down payment and Php 5,000 every month for 5 years. If money is worth 7% compounded monthly, find the cash price of the car. 3. Every 6 months for 8 years, an eldest sister deposits Php 2,800 in a company for his youngest sibling's education. If the money earns at 16% compounded semi annually, how much will be in the fund after the 4th deposit? After the last deposit?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning