1. find the future value and present value of an annuity P15,000 payable at the end of every 3 months for 30 payments. the first payment is due at the end of 7 years. the interest rate is 11% compounded quarterly.

2. Binnie Blanch purchased a dining set for P80,000 on May 13,1998. She paid P10,000 cash and agreed to pay the balance plus interest at 9.5% compounded annually in 14 annual payments, with first payment due on May 13, 2001. What is the size of payment.