Question

Ms.Jamyka would like to buy a television set payable for 6 months starting at the end of the month.How much is the cost of the TV set if her payment is Php3,000 and interest is 9℅ compounded semi-annually?​

Answer 1

Answer:

Answer in explanation.

Step-by-step explanation:

Since the interest is compounded semiannually we will choose i=4.5%.

6 payments of ₱3000 is a total of ₱18,000.

18,000 = p(1.045)

p = ₱17,224.88

The cost of the TV is ₱17,224.88- before imputed interest.