1. What is the present worth of a P1000 annuity starting at the end of the third year and continuing to the end of the fourth year, if the annual interest rate is 15%? 2. Find the annual payment to extinguish a debt P15,000 payable for 6 years at 12% interest annually. 3. A factory operator bought a diesel generator set for P 20,000.00 and agreed to pay the dealer uniform sum at the end of each year for 5 years at 8.5% interest compounded annually, that the final payment will cancel the debt for principal and interest. What is the annual payment?
1. What is the present worth of a P1000 annuity starting at the end of the third year and continuing to the end of the fourth year, if the annual interest rate is 15%? 2. Find the annual payment to extinguish a debt P15,000 payable for 6 years at 12% interest annually. 3. A factory operator bought a diesel generator set for P 20,000.00 and agreed to pay the dealer uniform sum at the end of each year for 5 years at 8.5% interest compounded annually, that the final payment will cancel the debt for principal and interest. What is the annual payment?
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 17P
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