4. A high school student would like to save Php. 60,000 for his graduation. How much should he deposit in a savings account every 3 months for 6 years if interest rate is a 0.25% compounded monthly?
4. A high school student would like to save Php. 60,000 for his graduation. How much should he deposit in a savings account every 3 months for 6 years if interest rate is a 0.25% compounded monthly?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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No.4. Step by step solution, I do not understand excel
Transcribed Image Text:1. Mr. Moreno started to deposit Php. 5,500 quarterly in a fund
that pays 2.5% compounded monthly. How much will be in the
fund after 6 years?
2. The buyer of a lot pays Php. 50,000 cash and Php. 14,500 every
month for 10 years. If money is 8% compounded annually, how
much is the cash value of the lot?
3. How much should be invested in a fund each year paying 3%
compounded semi-annually to accumulate Php. 150,000 in 6
years?
4. A high school student would like to save Php. 60,000 for his
graduation. How much should he deposit in a savings account
every 3 months for 6 years if interest rate is a 0.25%
compounded monthly?
5. A television (TV) set is for sale at Php. 13,499 in cash or on
installment terms, Php. 2,599 each month for the next 6 months
at 8.9% compounded quarterly. If you were the buyer, what
would you prefer, cash or installment?
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