1. Nick wants to but a secondhand tricycle worth 40,000. He can pay a down payment of 5,000 and the balance payable at the end of every month for 2 years. Fund how much must Nick pay monthly at 3.5% compounded monthly? Answer in 4 decimal places.

2. Russel purchased a brand new car. He paid 250,000 down payment, and 16,500 payable every 17th day of each month for 5 years. If money is worth 8% compounded monthly, what is equivalent cash price of the car? Answer in 4 decimal places

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Nick wants to buy a secondhand tricycle worth P5,000 and the balance payable at the end of every month for 2 years. Find how much must 26 40,000. He can pay a down payment of Nick pay monthly at 32% compounded monthly