1. You applied for a loan with a bank and the P80,000 was approved at an interest rate of 14% of which P11,200 was deducted and you were given a check of P68,800. Since you have to pay the amount of P80,000 one year after, what then will be the effective interest rate? 2. An amount of P5,000 is deposited in a bank at 5% compounded quarterly for 3 years. After 3 years it is withdrawn. It was then deposited into another account of 3% compounded continuously for 7 years. What is the amount in the account after the 7 years? 3. A businessman borrowed P4,000 to be paid after 1 12 years with interest at 10% compounded semi-annually and P6,000 to be paid after 4 years at 11% compounded monthly. What single payment must he pay after 4 12 years at an interest rate of 15% compounded quarterly to settle the two loans? 4. A depositor deposited P1,500 in a 3% account compounded continuously. In a second account, he deposited P800 in a 9% account compounded continuously. How long will it take for the two accounts to be the same in amount. 5. A P2,500 is deposited for 6 years at the rates of 2% in the first to the third year, for the fourth year 5%, and for the fifth and sixth year 6% all compounded continuously. What is the amount in total at the end of the 6 years