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?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![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?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbf872621-95c8-4dfe-a6b2-d84f98895f94%2Fc07b2522-86c4-4028-9eac-8cbdf9c21ef6%2Fjwkg61h_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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?
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