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40. What annual deposit into a sinking fund at 5% compounded annually will be needed to raise half a million pesos at the end of 10 years to settle a loan? What is in the fund at the end of 5 years? 41. What quarterly deposits into a sinking fund earning 4- compounded quarterly are necessary to accumulate to P 75,000 in 1 year and 9 months? 42. Construct a sinking fund table showing the growth of a fund of P 8,000 at the rate of 3.5% compounded quarterly. How much is the quarterly deposit? 43. When Xian was born, his father Brian deposited a sum of money for the college education of Xian. Brian approximates that when Xian enrolls in college, the annual tuition fee will be about P 200,000. So for the duration of his 4-year college course, Brian needs about P 800,000. How much did he deposit semi-annually in a fund that earns interest at the rate of 5.5% compounded semi-annually? 44. A fund of about P 5 million is to be created by 40 quarterly payments at the rate of 4% compounded quarterly. Find the quarterly deposit. Construct a table showing the growth of the fund for the first 6 quarters. 45 You purchased an appliance in a certain appliance center worth $ 55,000 using your credit card. The credit card company charges a monthly interest rate of 4% and a minimum payment of 5%. Assuming you only pay the minimum amount at the end of the month, what is the remaining balance after 6 payments? 46. If you purchased shoes and bags from a department store and used your credit card, the purchase amounted to P 12,000, and you decided to pay it in 18 months at 21% APR, compute the finance charge. 47. Here is a bill from a credit card company that a credit card user received: May 1: Unpaid Balance = P 42,500.75; May 10: Payment Received = P-2, 125.00; May 15: Purchases = P 1,450. Compute the total amount due at the end the billing period wwhich is May 25. 48. A businessman invested P 5,000,000 in a money market offered by a local bank. The money market pays an interest of 45% APR. How much is the amount of his investment after 3 years? 49. A dining set that costs $ 120,000 is being sold for a down payment of P 20,000 and equal installment for 30 months at 0.9% per month. How much is the monthly payment? 50. A credit card has a balance of P 129,776.71 on March 1. The credit card holder paid P 10,000 on March 15. He made a purchase of P 8,862.54 on March 16 and did not use the credit card until the end of the month. The monthly interest rate is 3.50% on purchases and 3.50% on cash advances. How much is the minimum amount to pay at the end of March