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Answered

Lorenzo purchased a house and lot from a friend for her clinic. If she pai P2,000,000 as down payment, and promised to pay her friend P25,000 every 3 months for 10 years at 3% compounded quarterly, find the cash value of the house and lot.​

Sagot :

100yersoldnonsenceid

Answer:

Cash after 10 years is apx. P33, 708.27

Step-by-step explanation:

P = 25000, r =.03, n = 4, t = 10. Therefore,

A =P(1 +r/n) ^nt

=25000(1+.03/4)^4(10)

=25000(1.0075)^40

=25000(1.35)

=33708.27