How long will an account invested at 11.5% compounded yearly is tripled?13. What is the present worth of two P 100.00 payments at the end of the third year and fourth year? The annual interest rate is 8%.
14. A house and lot costing P2M was bought at a down payment of P 500 000.00 and P 1m after one year. The remaining balance will be paid at the end of the third year. If the interest is 24 % compounded semi- annually, what is the required payment?
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A sum of P 1000.00 is invested now and left for eight years, at which time the principal is withdrawn. The interest that has accrued is left for another eight years. If the effective annual interest rate is 5%, what will be the withdrawal amount at the end of the 16th year?