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- A gasoline engine is available on installment basis with a down payment of 10,688 and 2,328 at the end of each month for one year. What is the cash price of the engine if interest is set at 9% compounded monthly if payments are done every beginning of the month?pls show the formula and complete solution :(5 The first cost of an electric rebar bender is P306,000 and a salvage value of P49,000 at the end of its life for 5 years. Money is worth 4.3% annually. If there is no salvage value and the annual maintenance cost is P18,000, find the annual cost of perpetual service. Express your answer in whole number.A contractor bought a concrete mixer at ? 120,000 if paid in cash. The mixer may also be purchased by installment to be paid within 5 years. If money is worth 8% compounded annually, what is the amount of each annual payments made at the end of each year if paid in installment up to the end of 5 years?
- Jake borrowed P750, 000 from a credit union to purchase a used car. The interest rate on the loan is 0.25% per month and he will make a total of 36 monthly payments. What is his monthly payment?A machine costs ₱60,000 if paid in cash. On the installment plan, a purchaser should pay ₱20,000 down payment and 10 quarterly installments, the first due at the end of the first year after purchase. If money is worth 15% compounded semi-annually, determine the quarterly installment.Compute the initial value of the money if the barrower needs deposit the accumulated amount of P59,137 to the bank after 8 months and 24 days if the money has the interest rate of 19% per annum.
- A condominium unit can be bought at a down payment of ₱150,000 and a monthly payment of ₱ 20,462 for 10 years starting at the end of 5th year from the date of purchase. If money is worth 3% compounded monthly, what is the cash price of the condominium unit?7. Lawrence takes out a loan For S8000 to start a business after high school, The bank chargeshim 8% interest for the loan. After 8 years how much interest will be added on to the loan? 8. A man borrowed an amount of S10,000 to a bank. The bank agreed considering that theinterest rate is 5% annually. Determine the amount that the man paid the bank if heborrowed last January 01, 1900. The man paid the bank dated November 30, 1900. Useexact simple interest.Ten years ago a businessman purchased a machine for P 50,000 with an expected life of 20 years based on straight line depreciation. Today, he decided to replace it with a modern one that costs P 120,000. If the salvage value of the old unit is P 20,000, how much more will he raise to buy the new machine? a. P 55,000 b. P 45,000 c. P 90,000 d. P 75,000
