A contractor bought a concrete mixer at P 150,000 if paid in cash. The mixer may also be purchased by installment to be paid within 5 years. If money is worth 8% compounded annually, what is the...

Extracted text: A contractor bought a concrete mixer at P 150,000 if paid in cash. The mixer may also be purchased by installment to be paid within 5 years. If money is worth 8% compounded annually, what is the amount of each annual payments are made at the beginning of each year. P 34,786 P 24,786 P 27,828 O P 37,828