Sofia won P700,000 in a raffle. She invests her winnings at 9% compounded quarterly with the condition that she will receive 20 quarterly withdrawals starting at the end of 2 years. Find the size of the withdrawals.
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- Next Level Potter wishes to deposit a sum that at 12% interest, compounded semiannually, will permit 2 withdrawals: 40,000 at the end of 4 years and 50,000 at the end of 10 years. Analyze the problem to determine the required deposit, stating the procedure to follow and the tables to use in developing the solution.Ling has saved $73,000.00. If she decides to withdraw $2,828.00 at the beginning of every year and interest is 3.65% compounded semi-annually, for how long can she make withdrawals? Express your answer in years and months (from 0 to 11 months).Kyle borrowed P100,000 to be paid in 10 years, and established a sinkingfund to provide for the payment of this obligation. The deposits with thefund will be made at the end of every six months. If money is worth 8%compounded semi-annually, what should be the amount of each deposit.
- Victoria buys a property for $2,500,000 by paying $500,000 down payment and the rest on a 15-year credit with a 12% annual capitalizable interest rate each month. How much of the 55th payment is used to cover interest?To prepare his retirement for 20 years, a self-employed engineer deposits P6,000 every end of 3 months in a fund that earns 10% compounded quarterly. How much could he get after his retirement?Mr. White takes a 15-year loan of $50000 to purchase an equipment for his factory. If the interest rate is 4% per quarter compunded monthly. Determine the mothly payment he has to make Determine the total payment he makes at the end of 15 years
- Mr. Ramos buys a house and lot that cost P450,000. He pays P75,000 as down payment and promises to pay the balance by monthly installment for 25 years. If money is worth 12% compounded monthly, a. How much is the monthly amortization? b. What is the outstanding balance at the end of 15 years? c. What part of Mr. Ramos payment goes to the interest? d. What part of the 181st payment goes to repayment of the principal? e. Find the total interest paid on the transaction? Please do on excelTwelve years ago, Mr. Lawton rolled a $19,000 retiring allowance into an RRSP that subsequently earned 10.2% compounded semiannually. Four years ago he transferred the funds to an RRIF. Since then, he has been withdrawing $1200 at the end of each quarter. If the RRIF earns 8.2% compounded quarterly, how much longer can the withdrawals continue? ___Years and ___ MonthsSoledad decides to have P2,100 at the end of each quarter, which is the amount paid into her retirement plan by the company where she works. If she chooses an investment fund that guarantees 7% per year compounded quarterly, how much will she have in 12 years? A P50,000 loan is payable in 3 years. To repay the loan, the debtor must pay an amount every months with an interest rate of 6% compounded semi-annually. How much should he pay every 6months? Gina has decided to make quarterly payments of P8,200 at the end of each quarter for 10 years into an investment that he thinks will yield 10% compounded quarterly, what lump sum deposited today that will result to the same future value?
- Tony Sanchez plans to retire and to withdraw 10 annual withdrawals that will start at P60,000 at the end of the first year and decrease by P5,000 each year. How much money must be initally deposited in a saving account at the security bank, which pays an interest rate if 5% per year?Mr. Torres paid PhP200,000 as downpayment for a farm. The remaining amount is to be settled by paying PhP16,200 at the end of each month for 5 years. If interest is 5% compunded semi-annually, what is the cash price of his farm?Gilbert got a loan of P100,000 from a local lending agency at 13% compounded annually. Their agreement is that he will repay the said loan in five years. If each successive payment is P5,000 less than the previous payment, how much will be his first and last payment?
