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Independent Activity 3 The buyer of a lot pays P 50,000.00 cash and P 10,000.00 every month for 10 years. If money is 8% compounded monthly, how much is the cash price of the lot?​

Independent Activity 3 The Buyer Of A Lot Pays P 5000000 Cash And P 1000000 Every Month For 10 Years If Money Is 8 Compounded Monthly How Much Is The Cash Price class=

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Step-by-step explanation:

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Answer:

Answer:

the total cost of land is 622400

Step-by-step explanation:

ask: The total value of lot.

given:P50,000 and 10,000

8% compunded annully

Solution:

1. compute for the annual pays of buyer

60000 multiply by 12 months

60000x 12 = 720, 000

2. comute for the annual compunded, get the 8% 0f total annual pays of buyer

720000 x 8% = 57600

3. compute for total lot value. annual pays subtracted by 8% of annual comounded

720000 - 57600 = 622400

there for the total cost of the lot is P622400

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