1. At what interest rate will a principal of ₱9,500 accumulate to ₱15,000 in 2 years compounded semi-annually?
2. Polly purchased a car. She paid ₱150,000 as down payment and pays ₱5,500 at the end of each month for 48 months. If the interest is 7.8% compounded monthly, how much was the car worth?
3. A house and lot are worth ₱4.3 million in cash. A buyer pays a 40% down payment and agrees to pay the balance by equal payments at the end of each month for 10 years at the rate of 9% compounded monthly. How much will be the monthly payment?
4. In order to have ₱1 million in a fund at the end of 15 years, how much must be deposited in the fund every quarter if money can be invested at 10.5% compounded quarterly?
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