You decide to buy a TV set for Php $800$ and agree to pay for it with $18$ equal monthly

payments at $1\mathrm{.}5\%$ interest per month on the unpaid balance. How much are your

payments? $($Php $51\mathrm{.}05)$ What is the total interest paid? $($Php $118\mathrm{.}90)$

BDO offers a $7-$year ordinary annuity with a guaranteed rate of $6\mathrm{.}35\%$ compounded

annually. How much should you pay for one of these annuities if you want to receive

payments of Php $10,000$ annually over the $7-$ year period? $($Php $55,135\mathrm{.}98)$