Mr. and Mrs. Ramirez bought a house and lot with a down payment of P1,000,000.00 and a yearly payment of P200,000.00 at the end of each year for a period of 10 years, starting at the end of 5 years from the date of purchase.If money is worth 14% compounded annually, what is the cash price of the property?Answer. P1,617,670.00 4. Mr. and Mrs. Ramirez bought a house and lot with a down payment ofP1,000,000.00 and a yearly payment of P200,000.00 at the end of each yearfor a period of 10 years, starting at the end of 5 years from the date of purchase.If money is worth 14% compounded annually, what is the cash price of theproperty?Answer. P1,617,670.00

Given Data:Down Payment = P 100,000Yearly Payment = P 200,000Period = n = 10 years (Starting from…

Mr. and Mrs. Ramirez bought a house and lot with a down payment of P1,000,000.00 and a yearly payment of P200,000.00 at the end of each year for a period of 10 years, starting at the end of 5 years from the date of purchase.If money is worth 14% compounded annually, what is the cash price of the property? Answer. P1,617,670.00

Mr. and Mrs. Ramirez bought a house and lot with a down payment of P1,000,000.00 and a yearly payment of P200,000.00 at the end of each year for a period of 10 years, starting at the end of 5 years from the date of purchase.If money is worth 14% compounded annually, what is the cash price of the property? Answer. P1,617,670.00

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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