Long Quiz on Simple Annuity

In order to save for her high school graduation, Marie decided to save P200 at the end of each month. If the bank pays 0.250% compounded monthly, how much will her money be at the end of 6 years?

Suppose Mrs. Remoto would like to save P3,000 at the end of every month in a fund that gives 9% compounded monthly. How much is the amount or future value of her savings after 6 months?

In order to save for her high school graduation, Marie decided to save P200 at the end of each month. If the bank pays 0.250% compounded monthly, how much will her money be at the end of 6 years?

Suppose Mrs. Remoto would like to know the present value of her monthly deposit of P3,000, made at the end of each month when interest is 9% compounded monthly. How much is the present value of her savings at the end of 6 months?

Kathrina 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 made at the end of each payment interval??

Shirl started to deposit ₱18,000 at the end of each semi-annual payment interval into a fund that pays 5% interest compounded semi-annually. How much will be in the fund after 10 years?

What is the monthly amortization on an automobile loan of ₱900,000, to be amortized over a 5-year period at a rate of 9.5% compounded monthly, with payments made at the end of each month?

A refrigerator is for sale at P17,999 in cash or on terms, P1,600 at the end of each month for the next 12 months. Money is 9% compounded monthly. Which is lower, the cash price or the present value of the installment terms?

• Buying the refrigerator in cash is lower than paying it in installment term.
• The discounted total of monthly payments, calculated at 9% interest, comes out to be less than P17,999.
• The cash price and the present value of the installments match exactly when considering the interest over time.
• The total cost of installment payments, when discounted, is much lower than the cash price of P17,999.

Mr. Ribaya would like to save P500,000 for his son’s college education. How much should he deposit in a savings account every end of 6 months for 12 years if interest is at 1% compounded semi-annually?

Grace borrowed P150,000 payable in 2 years. To repay the loan, she must pay an amount every end of the month with an interest rate of 6% compounded monthly. How much should he pay every month?