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Solve the following:

1. Josiah, a fisherman, won a local lottery game. After reserving a portion

of his winning for his family’s immediate expenses, he is left with ₱

150,000.00. He decided to put this in an account providing 3% interest

compounded monthly. He also plans to let the money grow for 5 years,

and then make equal monthly withdrawals for another 5 years until the

money is the account is deleted. How much should be his monthly

withdrawals?



2.A house and lot are to be purchased by paying ₱ 15,500.00 monthly

payable in 25 years. The first payment is due in 1 year. How much is

the cash price of the house and lot if the interest rate is 12% converted

monthly?

3. Kim’s savings may allow her to withdraw ₱ 50,000.00 semi-annually for

5 years starting at the end of 5 years. How much her savings, if the

interest rate is 8%, converted semi-annually?

4. Rodel decided to sell their farm and to deposit the fund in a bank. After

computing the interest, they learned that they may withdraw

₱ 480,000.00 yearly for 8 years starting at the end of 6 years when it is

time for him to retire. How much is the fund deposited if the interest

rate is 5% converted annually?



Sagot :

VPNgon

(Question) : rate is 5% converted annually?

(Answer) :

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(MY OPINION)

#CARRYONLEARNING

Shokou

(Question) : rate is 5% converted annually?

(Answer) :

5% of percentage is required from you in advance and have been a while back and forth between the two of the individual named addressee and is a very long as I can be used as well but I don't know if I have been sent using my personal experience and skills to the right direction and a couple weeks to see the profile and you are interested.

(MY OPINION)

#CARRYONLEARNING

Nia chini San nia arigatooo

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