Problem A: Jenny's father deposited P 36,000 at the end of each yea for 5 years in her savings account. If her bank paid 4.67% interest compounded annually, find the future value. Round off your final answer up to 2 decimal

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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NOTE: DONT USE EXCEL
Problem A:
Jenny's father deposited P 36,000 at the end of each year
for 5 years in her savings account. If her bank paid
4.67% interest compounded annually, find the future
value. Round off your final answer up to 2 decimal
places.
Problem B:
RS Bank pays interest at the rate of 7.6% annually
compounded quarterly. How much money will Aerol
have in the bank at the end of 4 years if he deposits
P3,500 at the end of each quarter?
Round off your final answer up to 2 decimal places.
Problem C:
Find the present value of annuity of P 4,500 at the end of
each month for 6 years at 9.89% compounded monthly.
Round off your final answer up to 2 decimal places.
Transcribed Image Text:NOTE: DONT USE EXCEL Problem A: Jenny's father deposited P 36,000 at the end of each year for 5 years in her savings account. If her bank paid 4.67% interest compounded annually, find the future value. Round off your final answer up to 2 decimal places. Problem B: RS Bank pays interest at the rate of 7.6% annually compounded quarterly. How much money will Aerol have in the bank at the end of 4 years if he deposits P3,500 at the end of each quarter? Round off your final answer up to 2 decimal places. Problem C: Find the present value of annuity of P 4,500 at the end of each month for 6 years at 9.89% compounded monthly. Round off your final answer up to 2 decimal places.
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