1. If P60,000 is deposited each year for 10 years, how much annuity can a person get annually from the bank every year for 5 years starting 1 year after the 10^th deposit is made. Cost of money is 8%.
2. An engineer wishes to set up a special fund by making uniform semiannual start-of-period (period 0) deposits for 12 years. The fund is to provide P500,000 at the end of each year of the last five years of the 12-year period. If interest is 11% compounded yearly, what is the required semiannual deposit to be made?

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