1. Mike would like to go on a trip to Australia next year, but he currently has no money in his savings account. He will need P100,000 in his savings account one year from today in order to take the trip. If Mike's savings account pays him interest at a rate of 2.15% per annum, compounded semi-annually, how much must he deposit into his account at the end of each of the next 12 months in order to go on his trip? Mike would like to go on a trip to Australia next year, but he currently has no money in his savings account. He will need P100,000 in his savings account one year from today in order to take the trip. If Mike's savings account pays him interest at a rate of 2.15% per annum, compounded semi-annually, how much must he deposit into his account at the end of each of the next 12 months in order to go on his trip?

2. if Mike could deposit P10,000 into his savings account at the end of every month at an interest rate of j2= 2.15%, how many deposits would he have to make to accumulate at least the P100,000 he needs to take his trip?