Dr. Lorenzo purchased a house and lot from a friend fir her clinic. If she paid P2,000,000 as down payment, and promised to pay her friend P25,000 every 3 months for ten years at 3% compounded quarterly, find the cash value of the house and lot.
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Answer:
Cash after 10 years is P33,708.27
therefore
Step by step explanation
P=25000,r= .03,n= 4,t=10.
A=P(1+ r/n)
=25000 (1+,03/4)^4(10)
=25000 (1.0075) ^40
=25000 (1.35)
= 33708.27
I hope it helps :)
have a good day <33