or items 21-30, when asked about an amount of money (interest, discount, present value, future value, annuity, regular payment) round off your final answers to two decimal place values. When asked about rate of interest, express your final answer as percent rounded off to two decimal place values. When asked about time, round off answers to the nearest year., except when asked for the number of days. 21. Rica obtained a 3-year ₱40 000 discounted loan at 2% simple interest for her online business. Find the discount. 22. Rica obtained a 3-year ₱40 000 discounted loan at 2% simple interest for her online business. Find the amount of money Rica received. 23. Rica obtained a 3-year ₱40,000 discounted loan at 2% simple interest for her online business. Find the true interest rate.
For items 21-30, when asked about an amount of money (interest, discount, present value,
21. Rica obtained a 3-year ₱40 000 discounted loan at 2% simple interest for her online business. Find the discount.
22. Rica obtained a 3-year ₱40 000 discounted loan at 2% simple interest for her online business. Find the amount of money Rica received.
23. Rica obtained a 3-year ₱40,000 discounted loan at 2% simple interest for her online business. Find the true interest rate.
24. Find the future value of a ₱120,000-investment compounded semi-annually at 1.5% for 5 years.
25. Find the interest on a ₱120,000-investment compounded semi-annually at 1.5% for 5 years.
26. Suppose that you want to take a trip to Japan in 3 years and you decide that you will need ₱250,000. To have that much money set aside in 3 years, how much money should you deposit now into a bank account paying 6% compounded quarterly?
27. Find the future value of ₱60, 000 invested for 10 years at 3% interest compounded monthly.
28. Andrea is depositing ₱4,000 each month in an ordinary annuity that pays 2% interest compounded monthly. Determine the accumulated amount in this annuity after 5 years.
29. Andrea is depositing ₱4,000 each month in an ordinary annuity that pays 2% interest compounded
monthly. How much total interest was earned?
30. Find the monthly payment needed to save a ₱240000 down payment for a house in an annuity that pays 1.3% interest compounded monthly over 18 months.
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