1.To create a fund for his forthcoming business venture, Matthew decides to deposit P5,000 at the end of each month to his bank account. If the bank pays 1% compounded monthly on his deposits, how much will he have at the end of 2 years?

2.What is the amount of a 4-year ordinary annuity whose present value is P100,000 if money is worth 2.75% interest compounded monthly?

3.Mrs. Enciso paid P500,000as down payment for a piece of property in Tagaytay. The remaining liability is to be settled by paying P50,000 at the end of each month for 3 years. If money is worth 15% compounded monthly, how much is the cash price of the property?

4.In preparation for the college education of her son, Mrs. Calara will deposit P2,400 at the end of each month for 5 years in a fund earning 4.5% compounded monthly. How much is in the fund (a) just after the 15thdepositand (b) just after the last deposit?

5.In return for a loan, Mr. Domingo promises to pay P15,000 at the end of each 3 months for two years. If money is worth 10% converted quarterly, find (a) the principal borrowed; (b) his remaining liability just before his 3rdpayment; (c) his remaining liability just after the 5thpayment.