5. How long will an investment triple itself if it placed in an instrument that earns a. 4.25% per annum simple interest b. 2.75% per annum compounded quarterly
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5. How long will an investment triple itself if it placed in an instrument that earns a. 4.25% per annum simple interest b. 2.75% per annum compounded quarterly
6. Find the cash value of a condominium unit if a Php750,000 down payment and a monthly amortization of Php48,375 are required for 10 years. Assume that the interest rate is 5.65% compounded monthly.
7. Binter wants to have a fund amounting to Php6,500,000 available after 10 years. He will set up a sinking fund that will require a fixed regular monthly deposit. If the interest rate is 2.15% compounded monthly, calculate the amount of the monthly deposit that will be required.
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