Problem Solving Solve the following problems. How much is the monthly amortization on an automobile loan of P 900,000 to be amortized over a 5-year period at a rate 9.5% compounded monthly? 1. 2. Shirly started to deposit P 18,000 semi-annually in a fund that pays 5% compounded semi-annually. How much will be in the fund after 10 years? 3. Rita wants to buy a lot which costs 1 million pesos. She plans to give a down payment of 20% of the cost, and the rest will be paid by financing at annual interest rate of 12% for 10 years in equal monthly installments? What will be the monthly payment? 4. Ken is paying P2,500 every 3 months for the amount he borrowed at an interest rate of 8% compounded quarterly. How much did he borrow if he agreed that the loan will be paid in 2 years and 6 months? 5. A store advertises a motorcycle for P3,000 down payment and P 3,000 per month for 15 months. If the interest is 15% compounded monthly, what is the actual value of the motorcycle