Solution: What is her yearly amortization if all payments are to be made at the beginning of each year?

(Last Updated On: December 8, 2017)

What is her yearly amortization if all payments are to be made at the beginning of each year?

Problem Statement:

A housewife bought a brand new washing machine costing P12,000 if paid in cash. However, she can purchase it on installment basis to be paid within 5 years. If money is worth 8% compounded annually, what is her yearly amortization if all payments are to be made at the beginning of each year?

  • A. P2,617.65
  • B. P2,782.93
  • C. P2,890.13
  • D. P2,400.00

Problem Answer:

The yearly amortization if all payments are to be made at the beginning of each year is P2,400.00.

Solution:

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Solution: What is her yearly amortization if all payments are to be made at the beginning of each year?
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