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1. Convert a nominal rate of 8.50% compounded semi-annually to a nominal rate compounded monthly. What is the effective rate? 2. Find the accumulated amount
1. Convert a nominal rate of 8.50% compounded semi-annually to a nominal rate compounded monthly. What is the effective rate? 2. Find the accumulated amount of P9000 invested 5.75% compound monthly at for a period of 6 years. 3. Find the accumulated amount of P3500 invested 7.40% compound weekly at for a period of 10 years. 4. Liza deposits P12000 into her savings account. What is her balance after she earns 8.5% simple interest for 6 years? 5. Faye deposits P5500 into her savings account. What is her balance after she earns 6.5% compound interest for 8 years? 6. Matthew made the following deposits: Present - PSOK, After 9 months - P60K, After 1 years the present - P30K, After 2.5 years the present - P80K and After 4 years the present - P90K. Ten years from now, Matthew plans use the money to start a business. How much can he equally withdraw for 5 quarters if at 6% compounded semiannually? The 5 equal withdrawals will be made at the end of the 36th quarterly period
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