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BM2.MOD3 - Problem Set 5 Set A 05172010

The document contains 8 math word problems involving concepts like compound interest, installment payments, and present and future value calculations. The problems ask the reader to calculate things like the cash value of an inheritance paid out over 10 years with interest, monthly installment payments on a car loan, the interest rate on a loan paid back in monthly installments, and the number of payments needed to pay off a loan with interest compounded semi-annually. The reader is directed to show their work and box final answers.

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Pollie Jayne Chua
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50 views1 page

BM2.MOD3 - Problem Set 5 Set A 05172010

The document contains 8 math word problems involving concepts like compound interest, installment payments, and present and future value calculations. The problems ask the reader to calculate things like the cash value of an inheritance paid out over 10 years with interest, monthly installment payments on a car loan, the interest rate on a loan paid back in monthly installments, and the number of payments needed to pay off a loan with interest compounded semi-annually. The reader is directed to show their work and box final answers.

Uploaded by

Pollie Jayne Chua
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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BMAT2-X

Problem Set 5

Directions: Solve each of the following problems. Write your solutions neatly, and when applicable,
box your final answer.

1. A home appliance is for sale at Php16,000 in cash or on terms: Php2,500 down and Php1,200
each month for the next 12 months. If you were the buyer, which purchase plan would you
prefer? Money is worth 15% compounded monthly.

2. Every six months for 5 years, a father deposits Php4,200 in a trust company for his son’s
education. If the money earns at 12% compounded semi-annually, how much will be in the
fund after the last deposit?

3. A person receives an inheritance of Php25,000 every half year for 10 years. If money is worth
16% converted semi-annually, what is the cash value of the inheritance?

4. A couple buys a second-hand car that costs Php120,000. They pay Php50,000 down and the
balance in 24 monthly payments. If the interest rate is 15% converted monthly, find the
payments due at the end of each month.

5. A property is worth Php300,000. A buyer bought it paying Php80,000 cash, with the balance
in monthly installments of Php4,000 for 60 months. At what nominal rate converted monthly
did the buyer pay?

6. At what rate compounded monthly is interest charged for a Php18,000 air conditioner bought
on a 12-month installment term at Php1,800 each payment?

7. A contract calls for the payment of Php12,000 at the end of each year for 15 years. At what
interest rate compounded annually would this agreement be equivalent to a cash payment of
Php114,000?

8. A second-hand printer is worth Php5,800. The buyer pays Php1,000 down and promises to pay
Php600 every 6 months. If he is charged 12% interest compounded semi-annually, how many
full payments must he make? How much is the final irregular payment (if any)?

R. Nocon

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