At present, the average undergraduate student is responsible for paying off a $3500 balance on his credit card reaching its maximum credit limit. Suppose the monthly interest rate is 1.75%. How many years will it take to repay the $3500 balance assuming monthly payments of $100 are made and no additional hidden charges to the credit card?

For 22 years, Ms. Brielle saved $ 2,800 each year. A year after investing period ended, she withdraws $8,300 each year for 5 years. In the 7th and 8th years, she only withdraw $5800 per year. In the 9th year, she decided to withdraw the remaining money on her account. If the period interest rate was 6.5%per year, what was the amount she withdraw at the end of 9th years?

A company has issued 10-year bonds, with a face value of P1Million in P1000 units. Interest at 16% is paid quarterly if an investor desires to earn 20% nominal interest on P100,000 worth of these bonds, what would be the selling price have to be?

Ultrapure water (UPW) is an expensive commodity for the semiconductor industry. With the options of seawater or groundwater sources, it is a good idea to determine if one system is more economical than the other. Use a minimum accepted rate of return 12.5% per year and the present worth method to select one of the systems. Having the following assumptions with 10 years of economic life, UPW needs 1000 gallons/60seconds, and operating time of 14 hours per day of 200 days per year. Which option you would recommend as source? Refer to the table provided.