5. Ms. Reyes bought a jewelry costing Php 19,300. She agrees to make payments at the end of each monthly period for 5 years. She pays 6 % interest compounded monthly. What is the total amount of each payment? Find the total amount of interest paid.

What is a mutual fund?

Calculate the equity each of these people has in his or her home: Fred just bought a house for 200,000 by putting 10 as a down payment and borrowing the rest from the bank. Freda bought a house for 150,000 in cash, but if she were to sell it now, it would sell for 250,000. Frank bought a house for 100,000. He put 20 down and borrowed the rest from the bank. However, the value of the house has now increased to 160,000 and he has paid off 20,000 of the bank loan.