Problem 1: Tess wanted to have P100,000 on her bank account at the end of 8 years. She plans to deposit an amount at the beginning of each month at an interest rate of 3.5% compounded quarterly. a. What is her monthly deposits? b. What is the present worth of these deposits? Must have a written solution with a final answer of: 1A) A = 901.8952 1B) P = 75670.48 |