A company rent a building for P50,000 per month for a period of 10 years. Find the accumulative amount of the rentals if the rental for each month is being paid at the start of each month and money is worth 12% compounded monthly.
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- Find the size of monthly payment for 2 years on P85,000 if money is worth 12% compounded monthly and the first payment is made at the end of 6 months.SJS Software needs to accumulate P650,000 in 2 years to meet future needs. What regular payment would they need to make at the end of each month, at 2% interest compounded monthly?Park company is building a new office building, and management is trying to decide how rent payments for the office space should be structured. The alternatives are: Annual payments of P15,000 at the end of each year. Monthly payments of P1,200 at the end of each month. Assuming an interest rate of 12% compounded monthly, which payment schedule should Park use?
- The maker of cardboard boxes leases a warehouse and pays $5,000 at the beginning of each month for 5 years. If interest rates are 2.75% compounded monthly, what is the present value (in dollars) of the payments?A flat-screen TV can be purchased with payments of P12,500 at the end of each month for 2 years. If money is worth 18% compounded monthly, find (a) the cash price; (b) the remaining liability just after the 7th payment; (c) the remaining liability just before the 17th payment.RFS software needs to accumulate Php 650 000 in 2 years to meet future needs. What regular payment would they need to make at the end of each month, at 12% interest compounded monthly?
- Your company agreed to pay a maintenance contractor $ 3.677 as the first payment at the end of the first month. Then, the payment amount will increase by 6 every month. The duration of the maintenance contract is 5 years. If the interest rate is 6% per month, the present worth (now) of this maintenance contract is:A building is priced at $250,000. If a down payment of $25,000 is made and a payment of $5000 every month thereafter is required, how many months will it take to pay for the building? Interest is charged at a rate of 9% compounded monthlyYou obtain a loan of 1.5M at the rate of 18% compounded annually in order to build a house. The payment is made at the first day of the month. How much must you pay monthly to amortize the loan with a period of ten years?
- A one-year installment plan for an electronic gadget is paid P2,500 for the first month. The payment increases P200 for the following months. If money is worth 15%, what is the present worth of money and the equivalent annual cost.An apartment unit in a rural area that sells for P1,800,000 can be purchased under terms requiring 200 monthly payments. Assume that the first payment begins now and the interest is 12% compounded monthly. What is the size of the monthly payment?A loan of $11,300 is to be amortized with quarterly payments over 6 years. If the interest on the loan is 16% per year, paid on the unpaid balance, answer the following questions. a. What is the interest rate charged each quarter on the unpaid balance? b. How many payments are made to repay the loan? c. What payment is required quarterly to amortize the loan? a. The interest rate each quarter is %. b. There will need to be payments made. c. The quarterly payment needs to be S (Round to the nearest cent as needed.)