You visited your bank and asked about car loan options you can avail for the purchase of a new car worth around Php1.2 million. Your contact provided you the following information for five year term loans: Option 1 -- Make five equal annual year end payments. The rate the bank offers is 6.5%. Option 2 -- Make 10 equal semi-annual period end payments. The rate the bank offers is 6.35%. Option 3 -- Make 20 equal quarterly period end payments. The rate the bank offers is 6.3%. Option 4 -- Make 60 equal monthend payments. The rate the bank offers is 6.22%. Compare the four options and recommend which alternative makes the most sense assuming you had the capacity to make payments for any of the four payment terms. (Detail all relavant assumptions and solutions.) Starting next year, you will need Php120,000 annually for three years to complete your education. (One year from today you will withdraw the first Php120,000.) Your uncle deposits an amount today in a bank paying 5% annual interest (net of all charges and fees), which will provide the needed Php120,000 payments. 1) How large must the deposit be? 2) How much will be in the account immediately after you make the first withdrawal? (Detail all relavant assumptions and solutions.) Starting next year, you will need Php120,000 annually for three years to complete your education. (One year from today you will withdraw the first Php120,000.) Your uncle deposits an amount today in a bank paying 5% annual interest (net of all charges and fees), which will provide the needed Php120,000 payments. 1) How large must the deposit be? 2) How much will be in the account immediately after you make the first withdrawal? (Detail all relavant assumptions and solutions.)