Past Board Exam Problems
1. If a machine is purchased on installment and the buyer makes an P80,000.00 down payment and owes a balance of P150,000 in 2 years. Determine the machine cash value if money is worth 14% compounded quarterly. a) P199,312.00 b) P183,912.00 c) P193,912.00 d) P139,912.00 answer: ) P193,912.00 Solution: Cash Value = Down payment + Present value of the balance 2. What is the eff...