1. If P5,000 is placed in a fund at the beginning of each 3 months and the fund is invested at 5.75% compounded quarterly, when will the fund contain at least P150,000?

2. Catacotacos Corporation has bought a machinery worth P600,000 in installment with interest at 17.25% compounded semi-annually. The sale agreement requires Catacotacos Corp. for a sequence of P100,000 semi-annual payments, the first of which is due immediately. (a) How many full payments of P100,000 are required? (b) How much must be paid on the last payment date to settle the debt completely?