1774Civil EngineeringMedium
A factory operator bought a diesel generator set for P 10,000.00 and agreed to pay the dealer uniform sum at the end of each year for 5 years at 8% interest compounded annually, that the final payment will cancel the debt for principal and interest. What is the annual payment?
AP 2,544.45
BP 2,540.56
CP 2,500.57
DP 2,504.57
Correct answer
D. P 2,504.57
Explanation
The correct answer is P 2,504.57.