45. CE BD 1996.

A service car whose cash price was ₱ 540,000 was bought with a
down payment of ₱ 162,000 and monthly payments of ₱ 10,874.29 for 5 years. What is
the rate of interst if compounded monthly?
a. 20% b. 26% c. 24% d. 22%

Solution:

¿
12
1+¿
1−( ¿¿−60 )
₱ 540,000 = ₱ 162000 +
₱ 10874.29
¿
¿
( )
12

By shift solve

¿=0.24 x 100 = 24%

46. CE BD. NOV 1995. Find the present value in pesos of a perpetuity of ₱ 15000
payable semi-annually if money is worth 8% compounded quarterly.

a. ₱371287 b. ₱ 386227 c. ₱ 392422 d. ₱ 358477

Solution:

1+ ¿ ¿ 2−1
2
0.08 4
1+ ¿ −1=¿
4
¿

0.08 2
1+ ¿ −1
a
[ ¿ ( 2 ) } x 100
¿¿

¿=8.08

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 ₱ 15000
P=
0.0404

P=₱ 371287

47. At 6%, Find the capitalized cost of a gas turbine whose first cost is ₱ 200M and life
is 20 years. If the gas turbine must be partially rebuilt at a cost of ₱ 100M at the end of
each 20 years.

a. ₱245.3M b. ₱215M c. ₱210M d. ₱220M

Solution:

₱ 100 M
CC=₱ 200 M +
1.06 20−1

CC=₱ 245.31 M

48. ME BD OCT 1997. An item is purchased for ₱100000. Annual costs are ₱18000.
Using 8% what is the capitalized cost of perpetual service?

a. ₱350000 b. ₱335000 c. ₱320000 d. ₱325000

Solution:

CC=₱ 100000+ ( ₱0.08

18000
)
CC=₱ 325000

49. ME BD OCT 1997. A car was bought on instalment basis with monthly instalment of
₱10000 for 60 months. If interest is 12% compounded annually calculate the cash price
of the car.

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 a. ₱455877.95 b. ₱567539.75 c. ₱678519.75 d. ₱345539.75

Solution:

1+ ¿ ¿12−1
12
0.12=¿

1
¿=( 1.12 −1 ) ( 12 ) x 100
2

¿=11.39

₱ 10000
P= ( 1−1.00948 9−60 )
0.009489

P=₱ 455877.95

50. ME BD OCT 1995. If ₱500 is invested at the end of each year for 6 years, at an
effective annual interest rate of 7%. What is the total amount available upon the deposit
of the 6th payment?

a. ₱3455 b. ₱3544 c. ₱ 3577 d. ₱3688

Solution:

F= ( ₱0.07500 ) (1.0 7 −1)

6

F=₱ 3577

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