3.) Engr. De Ocampo is planning to buy a condominium. If he is to pay 100k permonth with a down payment of 2million and an interest of 12% compoundedmonthly. How many years will it take for him to pay it full if the accumulatedprice of the condominium is 20million? ANSWER: y = 8.6230yrs4.) Engr. Tiu will buy a house with a price of 5million if paid in cash. If he wants itfully paid in 10years with an interest of 10% compounded weekly. How muchmust he pay every week? ANSWER: A = 15,219.82465.) Engr. Kirk plans to buy a gaming rig with a total amount of P150,000. If hewant to pay this every month partially for 4 years with an interest of 4%. Howmuch will he pay every month? ANSWER: A = 7077.0971

As per Bartleby honor code, when multiple questions are asked, the expert is required only to solve…

3.) Engr. De Ocampo is planning to buy a condominium. If he is to pay 100k per month with a down payment of 2million and an interest of 12% compounded monthly. How many years will it take for him to pay it full if the accumulated price of the condominium is 20million? ANSWER: y = 8.6230yrs

3.) Engr. De Ocampo is planning to buy a condominium. If he is to pay 100k per month with a down payment of 2million and an interest of 12% compounded monthly. How many years will it take for him to pay it full if the accumulated price of the condominium is 20million? ANSWER: y = 8.6230yrs

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 6PROB

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Question

3.) Engr. De Ocampo is planning to buy a condominium. If he is to pay 100k per
month with a down payment of 2million and an interest of 12% compounded
monthly. How many years will it take for him to pay it full if the accumulated
price of the condominium is 20million? ANSWER: y = 8.6230yrs
4.) Engr. Tiu will buy a house with a price of 5million if paid in cash. If he wants it
fully paid in 10years with an interest of 10% compounded weekly. How much
must he pay every week? ANSWER: A = 15,219.8246
5.) Engr. Kirk plans to buy a gaming rig with a total amount of P150,000. If he
want to pay this every month partially for 4 years with an interest of 4%. How
much will he pay every month? ANSWER: A = 7077.0971

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