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A certain manufacturer deposits P300,000 at the end of every quarter to save up P5,500,000 for a capital project in four years. To achieve its
- A certain manufacturer deposits P300,000 at the end of every quarter to save up P5,500,000 for a capital project in four years. To achieve its goal, what nominal interest rate compounded quarterly does the manufacturer require on its investment? What is the effective rate?
- A car financing firm offers the following scheme for an entry level Toyota Rush 2021 model:
- Selling Price P983,000
- Down Payment Method 50%
- Payment Term 60 months
- Monthly Payment P13,057.52
What nominal rate is applied and what is the effective rate?
- A new engineer wants to save up P1,000,000. He will contribute P5,000 annually to an investment earning 10% compounded monthly. How many annual deposits does he need and what will be the size of the concluding deposit if needed?
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