1. George Arrovo was promised PhP 72,000 per year for 15 years (to be received at the end of each year) and PhP600,000 at the end of 15 years for winning a gold medal in the last Olympic Games. How much is the total amount of George's reward in terms of present value if the cost of money is 15%?

2. An agricultural company borrowed PhP 70,250 on a term loan with annual interest at the rate of 12%. The length of the loan is 10 years. What is the principal repayment in the third year?

3.Alyssa Marie believes the world will end in exactly 10 years. She has PhP200,000 in a bank earning 12% interest. Alyssa Marie wants to withdraw an equal amount at the beginning of each of the next 10 years and to have exactly PhP100,000 left in 10 years to blow on one huge party just as the world is ending. What should be the size of her withdrawals?