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What is the monthly payment for the couple

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Problem 1: You borrow P100,000 for 5 years to pay tuition and fees. The annual interest rate of 5%, with payments to be made monthly. What monthly payment would be required to pay off the loan?

Problem 2: You expect to receive P1,000 at the end of each of the next 3 years. You will deposit these payments into an account which pays 10%, compounded semiannually. What is the future value of these payments, that is, the value at the end of the third year?

Problem 3: A young couple buys their dream house. After paying their down payment and closing costs, the couple has borrowed P400,000 from the bank. The terms of the mortgage are 30 years of monthly payments at the required rate of return at 6% with monthly compounding. What is the monthly payment for the couple?

Reference no: EM132815615

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