Solve the following problems. Round off the final answers to two decimal places. 1. In order to accumulate a fund of P15,000 by the end of 8 years, what equal deposits should be placed in the fund at the end of each 6 months If interest is at 5% compounded semi-annually? 2 An air-conditioner is for sale at P3,000 in cash or in terms of P700 down and P200 each month for the next 12 months. If you were the buyer, which purchase plan would you prefer? Money is worth 15% compounded monthly . 3. A car may be bought for sale P76,000 cash or in credit, a down payment of P16.000 plus P3,000 monthly for 2 years. At what rate compounded monthly is interest charged? 4. At what nominal rate compounded quarterly will payments of P800 at the end of each 3 months for 5 years discharge all liability for a debtor who borrows P14.000 today? 5. . A man started depositing P300 at the end of each 6 months. His first deposit was on April 15, 1975. When will his deposits amount to P7,110.48 if money is worth 3 1/2% compounded semi-annually? & A house is purchased for P500,000. The buyer pays 36% down payment and P7.500 monthly payments. Money is worth 24% compounded monthly. a) How many regular payments are there? b) Find the final payment if: 1. it is made on the last periodic payment 2 it is made one period after the last periodic payment 7. In retum for a loan, with money worth 6% compounded semi-annually, a man promises to pay P1,000 at the end of each 6 months for 8 years. a) Find the sum he borrows b) Find his remaining liability just after his 5th payment. c) Find his remaining liability just before his 6th payment d) Suppose the debtor failed to make his first 5 payments, when they were due. Then 3 years after he offers to discharge his accumulated liability because of the payments not made plus his liability for the future payments, by making a single payment. What single payment should he make at the end of 3 years