1. As a senior high school student, Jose decided to start making investments. He is going to deposit P600.00 at the end of each month for one year to an investment account that gives 6% interest rate compounded monthly. How much is the future value of annuity at the end of one year? Use the formula F = P PD j=_ n =

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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1. As a senior high school student, Jose decided to start making investments. He is
going to deposit P600.00 at the end of each month for one year to an investment
account that gives 6% interest rate compounded monthly. How much is the future
value of annuity at the end of one year? Use the formula F = P
PD
j=.
n =
2. John pays for his insurance the amount of P8,000.00 at the end of every three
months for 9 years with an interest rate of 9% compounded monthly. Find the future
value of John's payment for his car loan. Use the formula F = R
[(1+j)"-1]
(1+j)b.
%3D
-1.
R%=
n=
b%D
Transcribed Image Text:1. As a senior high school student, Jose decided to start making investments. He is going to deposit P600.00 at the end of each month for one year to an investment account that gives 6% interest rate compounded monthly. How much is the future value of annuity at the end of one year? Use the formula F = P PD j=. n = 2. John pays for his insurance the amount of P8,000.00 at the end of every three months for 9 years with an interest rate of 9% compounded monthly. Find the future value of John's payment for his car loan. Use the formula F = R [(1+j)"-1] (1+j)b. %3D -1. R%= n= b%D
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