B. Solve the following problems about general annuity and deferred annuity completely. State which problem is general annuity or deferred annuity and show your complete solution.

1. A school service van is available for purchase at P23,000 monthly payable in 4 years. The first payment is due in 4 months. How much is the present value of the van if the interest rate applied is 14% converted monthly?

2. Ruben bought a laptop that is payable by monthly installment of P1,800 for 12 months starting at the end of 2 months. How much is the cash value of the laptop if interest is at 10% convertible monthly?

3. Teacher Kaye is saving P2,000 every month by depositing it in a bank that gives an interest of 1%compounded quarterly. How much will she save in 5 years?

4. In order to have a fund of 1,000,000 at the end of 12 years, equal deposits every six months must be made. Find the semi-annual payment if interest is at 6% compounded annually.

5. Vladimir purchased a new car for P99,000 down payment and P15,000 every month. If the payments are based on 7% compounded quarterly what is the total cash price of his car?