A factory operator bought a diesel generator set for P10,000.00 and agreed to pay the dealer uniform sum at the end of each year for 5 years at 8% interest compounded annually, that the final payment will cancel the debt for principal and interest. What is the annual payment?

A factory operator bought a diesel generator set for P10,000.00 and agreed to pay the dealer uniform sum at the end of each year for 5 years at 8% interest compounded annually, that the final payment will cancel the debt for principal and interest. What is the annual payment?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

5:35
( Title
A factory operator bought a diesel
generator set for P10,000.00 and agreed to
pay the dealer
uniform sum at the end of each year for 5
years at 8% interest compounded annually,
that the final
payment will cancel the debt for principal
and interest. What is the annual payment?
1/1
ET
T
17
II

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