24. A house and lot can be acquired by a down payment of P 500,000 and a yearly payment of P 100,000 at the end of each year for a period of 10 years, starting at the end of 5 years from the date of purchase. If money is worth 14% compounded annually, what is the cash price of the property?
a. P 806.899.93
b. P 807,100.12
c. P 807,778.12
d. P 808,835.92
25. A man purchased on monthly installment of P 100,000 worth of land. The interest rate is 12% nominal and payable in 20 years. What is the monthly amortization?
a. P 1,101.08
b. P 1,202.08
c. P 1,303.08
d. P 1,404.08
26. Engr. Sison borrows P100,000 at 10% effective annual interest. He must pay back the loan over 30 years with uniform monthly payment due on the first day of each month. What does Engr. Sison pay each month?
a. P 838.86
b. P 849.12
c. P 850.12
d. P 840.21
27. A debt of P 12,000 with interest of 20% compounded quarterly is to be amortized by equal semi-annual payment over the next three years, the first is due in 6 months. How much is the semi-annual payments?
a. P 2,775.50
b. P 2,662.89
c. P 2,590.04
d. P 2,409.78
28. An engineer bought an equipment for P 500,000. He psent an additional amount of P 30,000 for installation and other expenses. The estimated useful life of the equipment is 10 years. The salvage value is x% of the first cost. Using straight line method of depreciation, the book value at end of 5 years will be P 291,500. What is the value of x?
a. 0.2
b. 0.4
c. 0.3
d. 0.1
29. An asset is purchased for P 9,000. Its estimated economic life is 10 years after which it will be sold for P 1,000.00. Find the depreciation in the first three years using sum-of-years digit method.
a. P 3,279.27
b. P 3,927.27
c. P 3,729.27
d. P 3,792.27
30. A machine initially worth P 50,000 depreciates in value each year by 20% of its value at the beginning of that year. Find its book value when it is 9 years old.
a. P 6,710.89
b. P 6,400.89
c. P 6,666.89
d. P 6,512.78