2. At age 30 you invest P5,000 into a mutual fund. If the fund averages an 8% annual return, your investment is worth how much at age 55?

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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2. At age 30 you invest P5,000 into a mutual fund. If
the fund averages an 8% annual return, your
investment is worth how much at age 55?
3. You are buying your first car and need to borrow
P830,650 over 5 years. If interest is 6%, what are
your monthly payments?
4. An investment option is available with continuous
compounding at 5% interest. If you invest P8,000
now, how much interest income will you earn if you
cash out in 3.5 years?
Transcribed Image Text:2. At age 30 you invest P5,000 into a mutual fund. If the fund averages an 8% annual return, your investment is worth how much at age 55? 3. You are buying your first car and need to borrow P830,650 over 5 years. If interest is 6%, what are your monthly payments? 4. An investment option is available with continuous compounding at 5% interest. If you invest P8,000 now, how much interest income will you earn if you cash out in 3.5 years?
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