A contractor bought a concrete mixer at P 140,000 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?
A contractor bought a concrete mixer at P 140,000 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?
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.2: Exponential Functions
Problem 53E
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January 24, 2022
15:38 | Philippines, llocos Region
A contractor bought a concrete mixer at P 140,000 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?
P 32063.91
O P 35063.91
O P 31123.45
O P 30054.77
ט
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