3. A businessman inherited a regular endowment of P100,000 every end of 3 months for "x" years. However, he may choose to get a single lump sum of P3,702,939.80 at the end of 4 years. If the rate of interest was 14% compounded quarterly, what is the value of "x"? Use ordinary annuity. 4. A father wishes to provide P20,000 for his son's 21st birthday. How much should he deposit every 6 months in an account with an interest of 3% compounded quarterly, if the first deposit is made when his son is 4 year old? 5. A student borrows P80,000 at an interest rate of 8% compounded quarterly. He must pay back the loan over 5 years with uniform monthly payment due on the first day of each month What does the student now ach month?

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