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or 32-33: Marie bought a laboratory equipment with P25 000 down pay payment of P2 500 each. If interest was computed at 9% compounded monthly, how much was the cash value if the first installment payment was made at the end of 6 months? 32. What kind of annuity is described in the problem? A. Annuity Due B. Ordinary Annuity C. Deferred Annuity D. General Annuity 33. What is the answer to the question of the problem? A. P24 494.40 B. P49 494.40 C. P82 179.92 D. P90 500 Sol'n:

or 32-33: Marie bought a laboratory equipment with P25 000 down pay payment of P2 500 each. If interest was computed at 9% compounded monthly, how much was the cash value if the first installment payment was made at the end of 6 months? 32. What kind of annuity is described in the problem? A. Annuity Due B. Ordinary Annuity C. Deferred Annuity D. General Annuity 33. What is the answer to the question of the problem? A. P24 494.40 B. P49 494.40 C. P82 179.92 D. P90 500 Sol'n:

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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or 32 - 33: Marie bought a laboratory equipment with P25 000 down payment plus 18 months monthly payment of P2 500 each. If interest was computed at 9% compounded monthly, how much was the cash value if the first installment payment was made at the end of 6 months? 32. What kind of annuity is described in the problem? A. Annuity Due B. Ordinary Annuity C. Deferred Annuity D. General Annuity 33. What is the answer to the question of the problem? A. P24 494.40 B. P49 494.40 Sol'n: C. P82 179.92 D. P90 500
Transcribed Image Text:or 32 - 33: Marie bought a laboratory equipment with P25 000 down payment plus 18 months monthly payment of P2 500 each. If interest was computed at 9% compounded monthly, how much was the cash value if the first installment payment was made at the end of 6 months? 32. What kind of annuity is described in the problem? A. Annuity Due B. Ordinary Annuity C. Deferred Annuity D. General Annuity 33. What is the answer to the question of the problem? A. P24 494.40 B. P49 494.40 Sol'n: C. P82 179.92 D. P90 500
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