Mr. Canlapan deposited his money from selling his old vehicle. The fund would allow him to withdraw 45,000 pesos semi-annually for 5 years starting at the end of 1 year. How much is the amount deposited if the interest rate is 2% converted semi-annually?
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Mr. Canlapan deposited his money from selling his old vehicle. The fund would allow him to withdraw 45,000 pesos semi-annually for 5 years starting at the end of 1 year. How much is the amount deposited if the interest rate is 2% converted semi-annually?
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- Mr. Canlapan deposited his money from selling his old vehicle. The fund would allow him to withdraw 45,000 pesos semi-annually for 5 years starting at the end of 1 year. How much is the amount deposited if the interest rate is 2% converted semi-annually? Kindly provide a solution type/written (given and formula used) not in an excel computation. Thanks!Mr. Canlapan deposited his money from selling his old vehicle. The fund would allow him to withdraw ₱45,000 semi-annually starting at the end of 1 year and last at the end of 5 years. How much is the amount deposited if the interest rate is 2% converted semi-annually? a. ₱320,987.67 b. ₱337,540.93 c. ₱340,916.34 d. ₱417,810.71Jin decided to sell their farm and to deposit the fund in a bank. After computing the interest, they learned that they may withdraw P480,000.00 arly for 8 years starting at the end of 6 years when it is time for him to retire. How much is the fund deposited if the interest rate is 5% converted annually?
- Mr. Sebastian avails the loan offered by his company with a minimal interest of 1.5% every 6 months. He borrows ₱150,000 and agrees to discharge his loan by paying a series of 10 equal semi-annual payments. The first payment is due at the end of 2 years. What amount should he pay every 6 months? Also draw the cashflow diagram and solve using the formula of annuities2. Manuel is preparing for an income fund for his retirement. He wants to receive ₱ 15 500 at the beginning of each month for the next 25 years. The income fund pays 10.5% per year compounded monthly. How much must Manuel deposit now to pay for the annuity?A man has deposited ₱50 000 in a retirement income plan with a local bank. This bank pays 9% per year, compounded annually, on such deposits. What is the maximum amount the man can withdraw at the end of each year and still have the funds last for 12 years?
- Mr. Doe is trying to decide whether to put his money in the XYZ Bank or the ABC Bank. The XYZ Bank pays 6% per annum interest, compounded annually; the ABC Bank pays 5% per annum interest, compounded quarterly. Mr. Doe expects to keep his money in the bank for 5 years. Which bank should he select?Rapi Tulpo invests Php1,000 in a Bank that doubles his money in five years. To what annual interest rate does this correspond assuming that he withdraws the interest each year?1. Engr. Secula started saving ₱2000.00 each year for 25 years until his retirement at 65years old. A year after he retired, he withdrew ₱10000.00 for a period of 5 years. In the ninth and tenth years, he decided to only withdrew ₱5000.00 per year. In the twelfth year, he withdraws the remaining money in his account. If the interest rate was 9% per year: a) Draw the Cash flow diagram with function symbols. b) What was the final withdrawal from his account?
- Troy Long wishes to deposit a single sum of money in a savings account so that five equal annual withdrawals of $2,000 can be made before depleting the fund. If the first withdrawal is to occur 1 year after the deposit and the fund pays interest at a rate of 5% compounded annually, how much should he deposit? suppose the first withdrawal does not occur until 3 years after the deposit. How much should be deposited?5. A man decided to sell his farm and to deposit the fund in a bank. After computing the interest, they learned that they may be withdraw Php180,000 semi annually for 11 years starting at the end of 7 years when it is time for him to retire. How much is the fund deposited if the interest rate is 5% converted semi annually?David invests $300 into an account with a 2.3% interest rate that is compounded semiannually. How much money will he have in this account if he keeps it for 10 years? Round your answer to the nearest dollar. Provide your answer below: