Solve each problem completely. 1. How much will be the future worth of money after 12 months if the sum of P35, 000 is invested today at a simple interest rate of 3% per month? 2. A man expects to receive P125, 000 in eight years. How much is that money worth now considering an interest rate of 12% compounded quarterly? 3. How long will it take the money to triple itself if invested at 9.5% compounded semi-annually? 4. By the conditions stated in a will, the sum of P2.5M is left to a son to be held in a trust fund by his guardian until it amounts to P4.5M. When will the son receive the money if the fund is invested at 10% compounded quarterly? 5. What is the effective rate corresponding to 18% compounded daily using 360 days in one year? 6. Which term offer the best investment for 1 year? a. 10% simple interest, b. 9.6% compounded monthly c. 10% compounded daily 7. A certain bank advertises 9.25% account that yields 9.58% annually. Find how often the interest is compounded, 8. A chemical engineer borrowed P150, 000 at 12% interest and paid P20, 000 per year for the last four years. How much will be his final payment at the end of the fifth year?