A home video entertainment set is offered for sale for 20124 down payment and P9475 every three months for the balance for 9months. If interest is to be computed at 5% converted quarterly, then what is the cash price equivalent (or cash value) of the set?Round your answer to 2 decimal places.

Given, Down payment P20124 Quarterly payment P9475 Rate 5%

Answered: A home video entertainment set is…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 8CE

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Topic is ordinary annuity, round off answer to 2 decimal places A home video entertainment set is offered for sale for $18,000 down payment and $1,800 every three months for the balance for 18 months. If interest is to be computed at 10% converted quarterly, then the cash price equivalent (or cash value) of the set is _______

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A home video entertainment set is offered for sale for 20124 down payment and P9475 every three months for the balance for 9 months. If interest is to be computed at 5% converted quarterly, then what is the cash price equivalent (or cash value) of the set?