Mr. and Mrs. Maglalang decide to set aside ₱ 500,000 today and place it on a bank savings account for their newborn daughter’s college education. How much will be available for college education when their daughter celebrates her debut, considering that banks offer an average interest rate of 0.5% compounded monthly?

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $621 per month…

A: Given information Amount deposit per month P=$621 Rate of interestr=6% compounded monthly.…

Q: What interest rate was applied if a loan of ₱65,468 will amount to ₱125,000 borrowed for 2.5 years…

A:

Q: Juan deposited 4000$ into an account with 2.4% interest  compounded semiannually. Assuming that no…

A:

Q: Find the capital value of an office building for which annual rent of $50,000 will be paid in…

A: we have to find the capital value of an office building for which annual rent of $50,000 will be…

Q: Mrs Angngad acquired a loan of P50000 from a credit union that charges interest of 16% compounded…

A: From the given information we find the quarterly payment.

Q: What lump sum of money must be deposited into a bank account at the present time so that ​$6,600 per…

A: Given that $6,600 per year can be withdrawn for 7  years, with the first withdrawal to start four…

Q: monthly

A: Please refer to the image below

Q: . Key has set up a fund in order to have $20,000 in 18 years for his children’s college education.…

A:

Q: John wants to retire with $10,000 per month, how much principal is necessary to generate this amount…

A: Use the formula I=Prt100, where P is principal, and r is the rate of interest, t is the time.,…

Q: Calculate the simple interest due on a 45-day loan of P1,600 if the interest rate is 9%

A: Concept: Here we shall use the formula for simple interest: SI=P×r×t100 Here P is the principal, r…

Q: The father has just donated $25,000 to a church. His son would like to donate an equivalent amount,…

A: Given;  Principal =$ 25000 Time = 5 years  Rate = 8.2%.

Q: A loan for $5,000 with a simple annual interest rate of 20% was made on September 13th and was due…

A:

Q: Wayne was late in making a $3,500 payment to Dora. If Dora accepted a payment of $3,801.75 and…

A:

Q: Today, Lucia made a down payment of ₱125,000.00 for the purchase of a new automobile. If she is…

A:

Q: A father wants to set aside money for his son's future college education. Money can be deposited in…

A: Consider the yearly amount deposit=$x The rate of interest r=8.5%=0.085 The amount of money at the…

Q: What is the monthly payment on a 25 year loan of $67,800 if the annual interest rate is 5%?

A: We have Principal loan amount, P = $67,800 Annual interest rate r = 5% = 0.05 Number of monthly…

Q: Engr. Velasco decided to subscribe in a globe promo which must be paid P 4,278 per month for five…

A: Engr. Velasco decided to subscribe in a globe promo which must be paid 4,278 per month for five…

Q: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

A: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

Q: How much loan will be extinguished for a monthly amortization of P4, 500.00 at 12% interest…

A:

Q: Suppose you deposited ​$40 per month into a savings plan for 5 years and at the end of that period…

A:

Q: On a girl's 10th birthday, her father started to deposit P5,000 quarterly at the end of each term in…

A: We can solve this using future value formula