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(a) What are the amounts of interest and maturity value of a loan for P20,000 at 6 % compound interest for 3 years? (b)
(a) What are the amounts of interest and maturity value of a loan for P20,000 at 6 % compound interest for 3 years? (b) In order to have P50,000 in 5 years, how much should you invest if the compound interest is 5%? (c) A savings account in a bank yields 0.25% compound interest annually. Accumulate (find the future value of) P25,000 for 4 years in this savings account. How much interest will be gained? (d) In a certain bank, Angel invested P88,000 in a time deposit that pays 0.5% compound interest in a year. How much will be her money after 6 years? How much interest will she gain? (e) On the 7th birthday of her daughter, Shirlee deposited an amount in a bank peso bond fund that pays 1.0% interest compounded annually. How much should she deposit if she wants to have P100,000 on her daughter's 18th birthday?
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