Direction: Answer the following questions involving deferred annuity. 1. Reyna decided to purchase a gas range for her baking business. The appliance store is offering it in a monthly instaliment basis of P2,850 with 5% interest compounded monthly payable for 3 years. If the first payment should be made after 6 months, what will be the cash price of the gas range? 2. Salvador has $500,000 left from his retirement benefit. He will be investing it in a financial firm that offers 7% interest compounded annually to receive a monthly payout after a year. How much is his monthly payout if he is expecting to receive such amount for 5 years? Reference: General Mathematics Learners Manual, p. 199​