when asked about an amount of money (interest, discount, present value, future value, annuity, regular payment) round off your final answers to two decimal place values. When asked about rate of interest, express your final answer as percent rounded off to two decimal place values. When asked about time, round off answers to the nearest year., except when asked for the number of days. 24. Find the future value of a ₱120 000-investment compounded semi-annually at 1.5% for 5 years. 25. Find the interest on a −−P120 000-investment compounded semi-annually at 1.5% for 5 years. 26. Suppose that you want to take a trip to Japan in 3 years and you decide that you will need ₱250, 000. To have that much money set aside in 3 years, how much money should you deposit now into a bank account paying 6% compounded quarterly?
For items 24-28, when asked about an amount of money (interest, discount, present value, future value, annuity, regular payment) round off your final answers to two decimal place values. When asked about rate of interest, express your final answer as percent rounded off to two decimal place values. When asked about time, round off answers to the nearest year., except when asked for the number of days.
24. Find the future value of a ₱120 000-investment compounded semi-annually at 1.5% for 5 years.
25. Find the interest on a −−P120 000-investment compounded semi-annually at 1.5% for 5 years.
26. Suppose that you want to take a trip to Japan in 3 years and you decide that you will need ₱250, 000. To have that much money set aside in 3 years, how much money should you deposit now into a bank account paying 6% compounded quarterly?
27. Find the future value of ₱60, 000 invested for 10 years at 3% interest compounded monthly.
28. Andrea is depositing ₱4,000 each month in an ordinary annuity that pays 2% interest compounded monthly. Determine the accumulated amount in this annuity after 5 years.
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