Reference no: EM132851047

Annuities Solve the following problems. Show your complete solutions. 1. In order to save for her high school graduation, Juan 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? 2. Suppose Mrs. Reyes would like to save P3,000 every month in a fund that gives 9% compounded monthly. How much is the amount of future value of her savings after 6 months? 3. Mr. Dela Cruz wants to buy a simple ordinary annuity of P100,000 per year for 5 years. He wants to enter a contract with SM Company and deposit a certain amount so that later, the company will pay him P100,000 per year for 5 years. Suppose the SM Company offered offered 2.2% compounded annually, find the amount Mr. Dela Cruz should deposit to the company. 4. Find the future value and the present value of annuity for P300,000 investment at 2% quarterly for 5 years.