4. When Armando became a new father, he decided to put up a fund by depositing P12,000.00 at the end of every 6 months in a bank paying interest at 5% compounded semi-annually. When the 32nd payment was made, he thought there would be enough in his account for his child's college education, he stopped depositing. By this time, the university of his choice is charging P63,000.00 per semester for tuition and other fees. For how many semesters in college would his fund pay?

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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4. When Armando became a new father, he decided to put up a fund by depositing
P12,000.00 at the end of every 6 months in a bank paying interest at 5% compounded
semi-annually. When the 32nd payment was made, he thought there would be enough
in his account for his child's college education, he stopped depositing. By this time, the
university of his choice is charging P63,000.00 per semester for tuition and other fees.
For how many semesters in college would his fund pay?
Transcribed Image Text:4. When Armando became a new father, he decided to put up a fund by depositing P12,000.00 at the end of every 6 months in a bank paying interest at 5% compounded semi-annually. When the 32nd payment was made, he thought there would be enough in his account for his child's college education, he stopped depositing. By this time, the university of his choice is charging P63,000.00 per semester for tuition and other fees. For how many semesters in college would his fund pay?
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