Question: Direction: Read, analyze, and solve the following worded problem involving annuities. Show your complete solutions. I already provided the answer I just need the SOLUTION.

Direction: Read, analyze, and solve the following

Direction: Read, analyze, and solve the following worded problem involving annuities. Show your complete solutions. I already provided the answer I just need the SOLUTION. Mr. Santos received two offers on a lot that he wants to sell. Mr. Reyes has offered 50 000.00 Php and one million pesos lump sum payment for 5 years from now. Mr. Cruz has offered 50 000.00 Php plus 40 000.00 Php every quarter for 5 years. Compare the fair market values of the two offers if the money can earn 5% compounded annually. Which offer has a higher market value? Answer: Mr. Reyes' offer has a higher market value of 833 526.20 Php compared to Mr. Cruz offer of 755 572.70 Php

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