1. The amount of Php 4,000,000 is deposited in a bank at an interest rate of 0.6% per annum. Find the amount in the account after 3 years if interest is compounded (a) annually, (b) semi-annually, (c) monthly.

2. Bank ABC offers a 7% interest per annum compounded monthly while bank XYZ offers 7.1% interest per annum compounded semi-annually. In which bank is it best to deposit your money?Show computations that support your answer.

3. Jen needs to raise Php 80,000 in 15 months. What amount should she set aside now and invest in a fund earning 2% per month to reach her target amount?

4. Find the present value of Php 100, 000 which is an amount due in 200 days if the money is worth 10.5% simple interest.

5. How long will it take for Php 24,000 to increase to Php 30,000 if the simple interest rate is 6.5%