Activity III PROBLEM SOLVING. Solve for the following problems. NO SOLUTION MEANS WRONG. 1. How many equal payments of Php500 at the end of each month will be required to accumulate Php200 000 at 12% compounded monthly interest?
Activity III PROBLEM SOLVING. Solve for the following problems. NO SOLUTION MEANS WRONG. 1. How many equal payments of Php500 at the end of each month will be required to accumulate Php200 000 at 12% compounded monthly interest?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:Activity III PROBLEM SOLVING. Solve for the
following problems. NO SOLUTION MEANS WRONG.
1. How many equal payments of Php500 at the end
of each month will be required to accumulate
Php200 000 at 12% compounded monthly
interest?
2. Jordan borrowed Php70 000 at an interest rate of
12% compounded semi-annually. He agreed to
pay Php5 000 at the end of every 6 months until
the maturity date. Give the number of payments he
should make the account.
3. Find the present value and the amount of 10 semi-
annually payments of Php750 each if the first
payment is done at 3 years and money is worth
10% compounded semi-annually.
4. A commercial building offered for sale Php945
000 cash, or Php300 000 cash and a sequence of
5 annual payments of Php170 000 each, with the
first payment due at the end of 3 years. If the
money is worth 7%, which purchase agreement is
better?
Transcribed Image Text:Activity II PROBLEM SOLVING. Compute for the
following problems.
1. How much must be deposited now in a bank
paying 9% compounded monthly if it is desired that
a monthly withdrawal of Php3 000 can be made for
5 years?
2. An actor donated Php320 000 to his Alma Mater
by creating a professional chair in honor of his
family. The said money was deposited by the
school in a fund earning 15% compounded
monthly for five years, with an agreement that the
recipient of the chair gets a monthly honorarium for
five years. How much is the monthly honorarium?
3. For a low cost house and lot, Ms. Buslon paid
Php300 000 in cash and agreed to pay Php5 430
at the end of each month for a period of 10 years.
If money is worth 6% compounded monthly,
a. What is the equivalent cash price of the house
mma m
and lot?
b. What is the price by instalment after 10 years?
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