Question: Business Math - Give the Correct Answer and Show Complete Solution. (See comments also. Thanks) 4. Cely has been depositing P8,000 at the beginning of

Business Math - Give the Correct Answer and Show Complete Solution. (See comments also. Thanks)

  • 4. Cely has been depositing P8,000 at the beginning of each month to a bank that pays 4% compounded monthly. How much is credited to her account (a) just after her 16th deposit is made, (b) at the end of 2 years and 6 months?
  • 5. Mr. De Jesus borrows P200,000 and agrees to discharge his liability by making equal payments at the beginning of each 6 months for 3 years. If money is worth [4.5%, m = 2], find his semiannual payment.
  • 6. An amount of P350,000 is needed by Mr. Solis for his business expansion at the end of 2 years. To accumulate this amount, Mr. Solis will deposit equal amounts at the beginning of each month for 2 years. How much must be deposited monthly if money is worth 5% converted monthly?

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