1. If money is worth 5% compounded quarterly, how much must Julea save every end of three months to have P24,000 at the end of 7 years? 2. Josh wants to buy a car worth P250,000. He can pay the P100,000 down payment and the balance payable every end of the month for 5 years. Find how much must he pay monthly at 4% compounded monthly? 3. A loan of P8,500 is to be discharged with 15 equal quarterly payments. What is the quarterly payment, if the interest rate is 8% compounded quarterly

1. If money is worth 5% compounded quarterly, how much must Julea save every end of three months to have P24,000 at the end of 7 years? 2. Josh wants to buy a car worth P250,000. He can pay the P100,000 down payment and the balance payable every end of the month for 5 years. Find how much must he pay monthly at 4% compounded monthly? 3. A loan of P8,500 is to be discharged with 15 equal quarterly payments. What is the quarterly payment, if the interest rate is 8% compounded quarterly

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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