A father plans to set aside Php250,000 for his son's college education. If he wishes to have Php500,000 in 5 years, at what rate converted monthly should he invest his money? 3.
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- You need Php 80,000 per year for four years to go to college. Your father invested Php 100,000 in a 7% csa account for your education when you were born. If you withdraw the Php 80,000 at the end of your 17th, 18th, 19th and 20th year, how much money will be left in the account at the end of your 21st year?You need Php 40,000 per year for four years to go to college. Your father invested Php 50,000 in a 7% interest for your education when you were born. If you withdraw the Php 40,000 at the end of 17th , 18th , 19th , and 21st years, how much money will be left in the account at the end of 21st year?1. Millet wants to provide a P200,000 graduation gift for her daughter Mae who is now 16 years old. She would like the fund to be available by the time her daughter is 20. She decides on an investment that pays 10% compounded quarterly. How large must the deposit be? 6. Ms. Cruz can buy a piece of property for P6.500.000 cash or P4,000.000 down payment and P4,200,000 in five (5) years. If she has money earning 8%, converted quarterly, which is a better purchased plan and by how much?
- A man invests P10,000 now for the college education of his 2-year old son. If the fund earns 14% effective, how much will the son get each year starting from his 18th to the 22nd birthday?10. Mr. Smart wants to set up an annual scholarship by donating $50 000 to the scholarship fund of his university. If the first payment is to be made in 5 years and interest is 4% compounded annually, what is the amount of the annual scholarship?You have Php100,000 in a trust fund that pays 6.5% interest. You must spend the money on your college education, and you must withdraw the money in 4 equal installments, beginning immediately. How much could you withdraw today and at the beginning of each of the next 3 years and end up with zero in the account? SHOW MANUAL SOLVING