An amount of P 1,000 becomes P 1,608.44 after 4 yrs. compounded bi- monthly. Find the nominal rate of interest.
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- A debt of P100 701.30 is to be paid by 10-end of the year payments. The first payment begins at the end of the 10th year. Find the yearly payment if rate of interest is 8% compounded yearly.At the birth of a girl, what amount should her mother invest in order to provide the daughter with ₱25,000 at the age of 21 years if the money earns 4 and 3/8 % compounded quarterly?a. ₱ 685.23 b. ₱ 10,025.32 c. ₱ 2,801.57 d. ₱ 8,250.50Carol borrowed P250,000 from a lending company with 10% interest compounded semi-annual and is to be amortized by semi-annual payments over the next 5 years. The first payment is due in 6 months. What are the semi- annual payments? Answer. P32,376.25
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