1. If Php 500 is invested at the end of each year for 6 year at an effective annual interest rate of 7%, what is most nearly the total dollar amount available upon the deposit sixth payment? 2. A steam boiler is purchased on the basis of guaranteed performance. A test indicates that the operationg cost will be Php 300 per year than the manufacturer guaranteed. If the expected life of the boiler is 20 years and money worth is 8%, how much should the purchaser deduct from the purchase price to compensate for the extra operating cost? 3. Juan de la Cruz borrowed Php 2400 at 1\% per month payable in 24 equal end of the month payments. How much of the loan remainds unpaid immediately after he has paid the 12th payment? 4. What is the exact simple interest on Php 2,000 if invested at 15% simple interest from January 23, 1995 to March 12, 1995? 5. What effective annual interest rate corresponds to a nominal rate of 6% compounded monthly