2. Using his credit card, a professional golfer bought a new golf set worth P30,000. The said golf set is expected to last for six years wherein it will have a salvage value of P5,000. If the golfer...

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Extracted text: 2. Using his credit card, a professional golfer bought a new golf set worth P30,000. The said golf set is expected to last for six years wherein it will have a salvage value of P5,000. If the golfer is to pay for the golf set in equivalent uniform annual payments, how much would each payment be at 7%?