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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?

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?

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.17E
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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?
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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