Use Given-Required-Solution in answering problems. Provide necessary cash flow diagrams for each.

Answers should be in 2 decimal places, unless stated otherwise. Percentage or rate answer should be in percentage with 2 decimal places an enclosed in a box.

5. A man loans P187,400 from a bank with 5% compounded annually. He agrees to pay his obligations by paying 8 equal annual payments, the first being due at the end of 10 years. Find the annual payments.

6. A housewife bought a brand new washing machine costing P12,000 if paid in cash. However, she can purchase it on installment basis to be paid within 5 years. If money is worth 8% compounded annually, what is her yearly amortization if all payments are to be made at the beginning of each year?