Question: ACTIVITY 2 Simple Annuity. Salve the following problems 1. ABC Company wants to replace an equipment which cost of Php 800 000 in 5 years.

ACTIVITY 2 Simple Annuity. Salve the following problems 1. ABC Company

ACTIVITY 2 Simple Annuity. Salve the following problems 1. ABC Company wants to replace an equipment which cost of Php 800 000 in 5 years. To acquire this a fund should be established by making equal monthly payments into an account paying 6.6% compounded monthly. How much should each payment be? 2. What annual rate compounded monthly will be required to accumulate Php 160 000 in 30 years with a monthly deposit of Php 100

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