Question

Find the present value of the amount php 7,500 payable at the end of each month for 10years if money is invented at 5% compounded monthly

Answer 1

The present value of an annuity is: $PV = 7,500×\frac{1 – 1/(1+0.05/12)^{120} } {0.05/12} = 707,110.13.$