Provide the solution for the given problem

Problem 4 A businessman wishes to have an amount of P2?69.84 after 5 years. He deposited P500 each year into a savings bank that pays a nominal interest per annum compounded continuously. 1. Compute the nominal rate of interest. 2. Compute the effective rate of interest. 3. Compute the sinking fund factor for this equal payment. Ans. 1.5% 2. 5.111% 3.1130516