Jaymarc wants to surprise his family through buying a brand new car. He plans to pay it indefinitely at the rate of 2.6%. If the car’s price is P2,300,050.00 if paid in cash, what is the amount of the car today after 10 years at the rate of 6.67% compounded continuously.
Jaymarc wants to surprise his family through buying a brand new car. He plans to pay it indefinitely at the rate of 2.6%. If the car’s price is P2,300,050.00 if paid in cash, what is the amount of the car today after 10 years at the rate of 6.67% compounded continuously.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 35P
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Jaymarc wants to surprise his family through buying a brand new car. He plans to pay it indefinitely at the rate of 2.6%. If the car’s price is P2,300,050.00 if paid in cash, what is the amount of the car today after 10 years at the rate of 6.67% compounded continuously.
A certain commodity is amounting P 60,000 if paid in cash. However, a P20,000 is required for downpayment if you decide to have it in quarterly installment basis. It is agreed that the first payment is due at the end of the first year after purchase with 10 quarterly installments. If money is worth 15% compounded quarterly, determine the quarterly installment.
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