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Please help me answer numbers 2,3,5,6,7. Thank you II. Solve the following problems. his 3 yrs. in Economic ng ua everal years - 1970, his
Please help me answer numbers 2,3,5,6,7. Thank you
II. Solve the following problems. his 3 yrs. in Economic ng ua everal years - 1970, his mid-1980s. via Nasar's Il Crowe as ng in a taxi CL natics. e 1. Mr. Cruz borrowed P110,000 at 5% simple interest to pay as down payment for a house and lot. If he was able to pay after 6 months, how much in all did he pay? 2. Mr. Reyes placed P12,000, in a savings bank at 4% and P13,000 in a time Si . deposit at 10%%. How much simple interest do his investments earn every 3 3. Mrs. Ablan borrowed P25,000 to start a market stall, at 14% simple interest. If she paid P10,000 every six months, a) how many times did she pay? b) How much was her last payment? c) how much in all did she pay? 4. If interest is compounded quarterly how much will P100,000 be at the end of one year at 12% compound interest? 5. P1200 is placed in an account at 4% compounded annually for 2 years. It is then withdrawn at the end of the two years and placed in another bank at the rate of 5% compounded annually for 4 years. What is the balance in the second account after 4 years? 6. What principal must be deposited in a 4.5% saving account compounded monthly in order to have a total of P10,000 after 8 years? 7. What would P1000 become in a saving account at 3% per year for 3 years at every uclidean partial mething Nash from anding assical of his that when the interest is not compounded (simple interest)? What would the same amount become after 3 years with the same rate but compounded annuallyStep by Step Solution
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