Please help me answer Question #8. Thank you! Name:Date:Score:B. Solve for the following:5. Francis Nicolas borrowed P100,000 at an interest rate of 14% compounded semiannually.He agreed to pay P7,500 at the end of each 6 months until the maturity date. Give thenumber of payments he is going to make to settle the account.6. To accumulate P250,000, Marisol needs to place equal deposits at the end of every 6months in a fund which earns at 18% compounded semiannually. If the first deposit ismade on January 5, 2015 and the last, on January 5, 2020, how large should each depositbe?7. Emelita bought a house and lot worth 2.3 million pesos. She gave a down payment ofP700,000 with an agreement to pay the balance for 15 years at 17% compoundedquarterly. How much was the quarterly payment?8. What sum will be paid at the end of every month for 5 years and 6 months if the presentvalue of P45,000 and interest are paid at 15% compounded monthly?Page 16-Chapter 4: Ordinary Simple Annuity

8. Given information, Present value (P): P 45,000 Interest rate (i): 15% Time period (N): 66 months…

Answered: 8. What sum will be paid at the end of…

8. What sum will be paid at the end of every month for 5 years and 6 months if the present value of P45,000 and interest are paid at 15% compounded monthly?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

Please help me answer Question #8. Thank you!

Name:
Date:
Score:
B. Solve for the following:
5. Francis Nicolas borrowed P100,000 at an interest rate of 14% compounded semiannually.
He agreed to pay P7,500 at the end of each 6 months until the maturity date. Give the
number of payments he is going to make to settle the account.
6. To accumulate P250,000, Marisol needs to place equal deposits at the end of every 6
months in a fund which earns at 18% compounded semiannually. If the first deposit is
made on January 5, 2015 and the last, on January 5, 2020, how large should each deposit
be?
7. Emelita bought a house and lot worth 2.3 million pesos. She gave a down payment of
P700,000 with an agreement to pay the balance for 15 years at 17% compounded
quarterly. How much was the quarterly payment?
8. What sum will be paid at the end of every month for 5 years and 6 months if the present
value of P45,000 and interest are paid at 15% compounded monthly?
Page 16-
Chapter 4: Ordinary Simple Annuity

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