Ordinary Annuity: 1. Tim deposits P750 every end of 3 months in an account paying 5% interest compounded quarterly. What amount is in the account at the end of 4 years and 6 months? 2. Find the amount and the present value of an annulty of P550 payable every three months for 7 years and 3 months, if money is worth 5%, compounded quarterly. 3. Find the cash value of a washing machine that can be bought for P1, 500 downpayment, and P650 a month for 18 months, if money is worth 6% compounded monthly?
Ordinary Annuity: 1. Tim deposits P750 every end of 3 months in an account paying 5% interest compounded quarterly. What amount is in the account at the end of 4 years and 6 months? 2. Find the amount and the present value of an annulty of P550 payable every three months for 7 years and 3 months, if money is worth 5%, compounded quarterly. 3. Find the cash value of a washing machine that can be bought for P1, 500 downpayment, and P650 a month for 18 months, if money is worth 6% compounded monthly?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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Ordinary Annuity:
1. Tim deposits P750 every end of 3 months in an account paying 5% interest compounded quarterly. What amount is in the account at the end of 4 years and 6 months?
2. Find the amount and the present value of an annulty of P550 payable every three months for 7 years and 3 months, if money is worth 5%, compounded quarterly.
3. Find the cash value of a washing machine that can be bought for P1, 500 downpayment, and P650 a month for 18 months, if money is worth 6% compounded monthly?
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