Use 4 decimal places in between process and 2 decimal for the final answer. Show the cash flow diagram. 1. Pedro Cruz started working for the ABC Corporation on his 25th Birthday. Each month P30 was...

Extracted text: Use 4 decimal places in between process and 2 decimal for the final answer. Show the cash flow diagram. 1. Pedro Cruz started working for the ABC Corporation on his 25th Birthday. Each month P30 was withheld from his salary and matched by an equal contribution from his employer, to be kept into a retirement fund. At the end of each year the contributions for the year were invested in a trust fund where it earned 8% interest compounded annually. Pedro retired on his 60th birthday and elected to receive an annuity of 20 annual payments, the first to be received immediately. What was the amount of each payment? DRAW THE CASH FLOW DIAGRAM.