5. In five years P18,000 will be bedded to pay for a building renovation. In order to generate this sum an annuity consisting of three annual payments is established now. What payment is necessary if money is worth 15% annually a. P 3919.53 b. P3567.89 c. P4000 O d. 4320.55 O e. None of the above

ECON A house and lot costing P2 million was bought at a down payment of P500,000 and P1 million after one year. The remaining balance will be paid at the end of the third year. If the interest rate is 24% compounded semi-annually, what is the required payment?

deferred annuity Frasier is 33 years old and just received an inheritance from his parents' estate. He wants to invest an amount of money today such that he can receive $5,000 at the end of every month for 15 years when he retires at age 65. If he can earn 9% compounded annually.