Question: An engineer bought a boiler costing P25,000 payable in 10 semi-annual payments, each installment payable at the beginning of each period. If the interest is

  1. An engineer bought a boiler costing P25,000 payable in 10 semi-annual payments, each installment payable at the beginning of each period. If the interest is 26% cpd. semi-annually, find the amount of each installment?
  2. How much money would you have to deposit for 5 consecutive years starting one year from now if you want to be able to withdraw P50,000 ten years from now? Assume the interest is 14% cpd. annuall

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