Jin decided to sell their farm and to deposit the fund in a bank. After computing the interest, they learned that they may withdraw P480,000.00 arly for 8 years starting at the end of 6 years when it is time for him to retire. How much is the fund deposited if the interest rate is 5% converted annually?
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- 4. Rodel decided to sell their farm and to deposit the fund in a bank. After computing the interest, they learned that they may withdraw P480,000.00 arly for 8 years starting at the end of 6 years when it is time for him to retire. How much is the fund deposited if the interest rate is 5% converted annually?Gil decided to sell their farm and to deposit the fund in a bank. After computing the interest, he found out that he may withdraw P350,000 yearly for 4 years starting at the end of 7 years when it is time for him to retire. How much is the fund deposited if the interest rate is 3% converted annually?Given:Find:Solution:5. A man decided to sell his farm and to deposit the fund in a bank. After computing the interest, they learned that they may be withdraw Php180,000 semi annually for 11 years starting at the end of 7 years when it is time for him to retire. How much is the fund deposited if the interest rate is 5% converted semi annually?
- Mr. Canlapan deposited his money from selling his old vehicle. The fund would allow him to withdraw 45,000 pesos semi-annually for 5 years starting at the end of 1 year. How much is the amount deposited if the interest rate is 2% converted semi-annually?On the day his son was born, a father deposited to a trust company a sufficient amount of money so that his son could receive money in the future. There was a provision that the son can withdraw an amount of P10,000 each year for 3 years starting on his 18th birthday and P15,000 eight months after the last withdrawal. The interest rate is 5% compounded monthly. How much money can he receive on his 18th birthday, if he decided to withdraw all the money at once?Jino sold his house. In addition to cash, he took a mortgage on the house. The mortgage will be paid off by monthly payments of P12, 345 for 10 years. He decided to sell the mortgage to a local bank. The bank will buy the mortgage, but requires a 1% per month interest rate on their investment. How much will the bank pay for the mortgage?
- On the day his son was born, a father deposited to a trust company a sufficient amount of money so that his son could receive money in the future. There was a provision that the son can withdraw an amount of P10,000 each year for 3 years starting on his 13th birthday and P16,600 ten months after the last withdrawal. The interest rate is 6% compounded monthly. What is the effective interest rate? How much did the father deposit? How much money can he receive on his 13th birthday, if he decided to withdraw all the money at once?Fatema wants to invest an amount of OMR. 2000 every year to go on vacations with her husband at the end of 5 years. For this purpose, she wants to invest some money in a saving bank but does not know the exact amount of money she will get after 5 years a) What amount will she receive assuming an interest rate of 7.85%? b) What amount will she receive assuming an interest rate of 7.50%? c) Suggest the option which will be enough to meet her travel expenses estimated to be 12000Bayan wants to buy a house in six years. She hopes to be able to put down OMR 25000 at that time. If the bank CD she wants to invest in will pay 7.5 percent annually, how much will she have to invest today Select one: a. 15680.04 OMR O b. 16107.50 OMR O c. 17107.50 OMR d. None of these O e. 16199.03 OMR
- Your uncle has P375,000 and wants to retire. He expects to live for another 25 years, and he also expects to earn 7.5% on his invested funds. How much could he withdraw at the beginning of each of the next 25 years and end up with zero in the account?Mr. and Mrs. Revilla decided to sell their house and to deposit the fund in a bank. After computing the interest, they found out that they may withdraw 350,000 yearly for 9 years starting at the end of 6 years when their child will be in college. How much is the fund deposited if the interest rate is 5% converted annually?Carla Lopez deposits $2,500 a year into her retirement account. If these funds have an average earnings of 5 percent over the 40 hears until her retirement, what will be the value of her retirement account?