7. Suppose a man receives an initial annual salary of P60.000 increasing at the rate of P5,000 a year. If money is worth 10%, determine his equivalent uniform salary for a period of 8 years. 8. On his 6th birthday a boy is left an inheritance. The inheritance will be paid in a lump sum of P10.000 on his 21st birthday. What is the present value of the inheritance as of the boy's 6th birthday, if the interest is compounded annually? Assumei. 4%. 9, A man loans P 187,400 from a bank with interest at 5% compounded annually. He agrees to pay his obligations by paying 8 equal payments, the first being due at the end of 10 years. Find the annual payments 10. A deposit of P110,000 was made for 31 days. The net interest after deducting 20% is P890.36. Find the rate of return annually