. Andrea is depositing ₱4,000 each month in an ordinary annuity that pays 2% interest compounded monthly. Determine the accumulated amount in this annuity after 5 years.
For items 28-29, when asked about an amount of money (interest, discount, present value, future value, annuity, regular payment) round off your final answers to two decimal place values. When asked about rate of interest, express your final answer as percent rounded off to two decimal place values. When asked about time, round off answers to the nearest year., except when asked for the number of days.
28. Andrea is depositing ₱4,000 each month in an ordinary annuity that pays 2% interest compounded monthly. Determine the accumulated amount in this annuity after 5 years.
29. Find the monthly payment needed to save a ₱240000 down payment for a house in an annuity that pays 1.3% interest compounded monthly over 18 months.
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