ANSWER THE FOLLOWING . THANK YOU! COMPLETE SOLUTION AND DRAW THE FIGURES,

NOTE: DRAW A FIGURE

A woman arranges To repay a Pl0000 bank loan in l0 eaual paymenTs aT a l0% effecTive annual inTeresT raTe. lmmediaTely afTer her Third paymenT she borrows anoTher P5000, also aT l0%. When she borrows The P5000, she Talks The banker inTo leTTing her repay The remaining debT of The firsT loan and The enTire amounT of The second loan in l2 eaual annual paymenTs. The firsT of These l2 paymenTs would be made i year dfTer she receives The P5000. CompuTe The amounT of each of The 12 paymenTs. Your rich uncle has jusT offered you To make you wealThyl For every amounT you save in an insured bank accounT during The nexT l0 years, he will give you The ToTal amounT (excluding inTeresT) ThaT you saved To maTch iT. Because your modesT income permiTs you To save P2000 per monTh for The nexT l0 years, your uncle will be willing To give you 240,000 aT The end of The l0Th year. If you desire a ToTal of Pl00000 l0 years from now, whaT effecTive inTeresT raTe would you have To earn on your insured bank accounT To make your goal possible