Solve for each problems. Show your solution legible and neatly. Write the question, the given(also what is the given?), what to find and a cash flow diagram.

Answers should be in 2 decimal places, unless stated otherwise. Percentage or rate answer should be in percentage with 2 decimal places.

1. Determine the present worth and the accumulated amount of an annuity consisting of 6 payments of P120,000 each. The payment are made at the beginning of each year and money is worth 15% compounded annually.

2. A man purchased on monthly installment a P100,000 worth of land. The interest rate is 12% nominal and payable in 20 years. What is the monthly amortization?

3. You need P4,000 per year for four years to go to college. Your father invested P5,000 in 7% for your education when you were born. If you withdraw P4,000 at the end of your 17th, 18th, 19th and 20th birthday, how much will be left in the account at the end of the 21st year?

9.

Solve for each problems. Show your solution legible and neatly. Write the question, the given(also what is the given?), what to find and a cash flow diagram. Answers should be in 2 decimal places, unless stated otherwise. Percentage or rate answer should be in percentage with 2 decimal places. 1. Determine the present worth and the accumulated amount of an annuity consisting of 6 payments of P120,000 each. The payment are made at the beginning of each year and money is worth 15% compounded annually. 2. A man purchased on monthly installment a P100,000 worth of land. The interest rate is 12% nominal and payable in 20 years. What is the monthly amortization? 3. You need P4,000 per year for four years to go to college. Your father invested P5,000 in 7% for your education when you were born. If you withdraw P4,000 at the end of your 17th, 18th, 19th and 20th birthday, how much will be left in the account at the end of the 21st year