Activity 1.2 Solve the following problems completely. Read and understand the situation below, then answer the question or perform the tasks that follow. 1. Agroup of college students decided to invest the money they earned from the fund-raising project. After 6 months from today, they want to withdraw from this fund P 10,000.00 quarterly for 1 year to fund for community service. How much is the present total deposit if the interest rate is 4% converted quarterly? 2. A company offers a deferred payment option for the purchase of any furniture. Gladys plans to buy a dining table set with a monthly payment of P 4,000.00 for 2 years. The payment will start at the end of 3 months. How much is the cash price of the dining set if the company will give 10% compounded monthly?

Activity 1.2 Solve the following problems completely. Read and understand the situation below, then answer the question or perform the tasks that follow. 1. Agroup of college students decided to invest the money they earned from the fund-raising project. After 6 months from today, they want to withdraw from this fund P 10,000.00 quarterly for 1 year to fund for community service. How much is the present total deposit if the interest rate is 4% converted quarterly? 2. A company offers a deferred payment option for the purchase of any furniture. Gladys plans to buy a dining table set with a monthly payment of P 4,000.00 for 2 years. The payment will start at the end of 3 months. How much is the cash price of the dining set if the company will give 10% compounded monthly?

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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