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- A man will deposit Php 2,000 with a savings and loan association at the beginning of each 3 months for 9 years. If the association pays an interest rate of 6.2% compounded quarterly, how much money does he after the last deposit?1.Determine the monthly savings is needed monthly to save PhP 200,000.00 at the end of 10 years, if the money is 10% yearly, compounded quarterly.2. A warehouse is initially rented for Php. 100, 000.00 a year. If the 10-year lease contract indicates that the rent increases by Php. 10,000.00 each year, determine the present worth of the lease. Money is worth 8% compounded monthly.
- Charlotte opened a savings account and deposited Php 150,000.00 as principal. The account earns 2% interest, compounded continuously. What is the balance after 9 years?A father deposits P1,000 every three months for 5 years in a bank that pays 12% compounded quarterly. Assuming that no withdrawals are made , how much would be in his account at the end of five 3. years?A series of 10 annual payments of Php 200, 000.00 is equivalent to two equal payments, one at the end of 15 years and the other at the end of 20 years. The interesi rale is 8%, compounded annually. What is the amounl of Ihe two equal payments?
- Mr. P has a debt of Php5,000 due in five years is to be repaid. Php2,000 now and a second payment at the end of 6 years. How much should the second payment be if the rate of interest is 6% compounded quarterlyIf you borrow PHP 80,000 from a lender for one year and 2 months at 3% discount interest rate, how much proceeds will you receive?Mr. Sabando, franchisee of a food stall business, received an offers from two well-known food company franchisers in Puerto Princesa City. Company X offers P120,000 at the end of 3 years plus P200,000 at the end of 5 years. Company Y offers P25,000 at the end of each quarter for next 5 years. Assume that money is worth 8% compounded annually. Which offer has a better market value?
- A man borrowed Php 120,000 and promised to pay annually for 5 years. The payment starts at "X" pesos. The man intends to increase his payments by Php 5,000 at the end of each successive year. If the interest rate is 8% compounded annually, how much will the first payment be? If the man decides to pay annually with 8 equal payments with the first payment to be made after 4 years, what will be the amount of the annual payment? Construct the cash flow diagram for both cases.2. Marion would like to purchase a used car, which requires a down payment of 80,000.00 pesos. He is willing to pay a monthly amortization equal to 25% of his monthly salary. if the seller will agree to a down payment and the balance payable in 3 years at 16% per year payable in monthly basis, how much is the cash value of the car if the first payment will be due at the end of the first month? Mario is receiving a monthly salary of 16,000.00 pesos a month. Show the cashflow diagram.If your credit card calculates interest based on17.85% APR, compounded monthly:(a) What are your monthly interest rate and annualeffective interest rate?(b) If your current outstanding balance is $2,500 andyou skip payments for two months, what wouldbe the total balance two months from now?