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B. Solve the following problems .
1. Consider the following annuities:
Annuity 1 Monthly deposit: P 1,000.00 Time period. 5 years Annual Interest Rate:8% Compounding Period: monthly Annuity 2 Quarterly deposit: P3,000.00 Time Period: 5 years Annual interest Rate: 8% Compounding Period: Quarterly
a. Find the total deposit and the amount of each annuity.
b. Why are the amounts not the same even if the total deposits are the same?
2. Ken is paying P2,500 every 3 months for the amount he borrowed at an interes rate of 8% compounded quarterly. How much did he borrow if he agreed the the loan will be paid in 2 years and 6 months?
Answers & Comments
Answer:
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Answer:
1.A
2. 12,000 if he agreed the loan will be payed in 2 years and 6 months
Step-by-step explanation:
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