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What sum of money is required to settle an obligation

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Problem 1: Arnold wants to save P123,000 before he buys his first car, and he has P62,000 right now to invest at 6.3 interest compounded semi-annually, how long will he have to wait?

Problem 2: What sum of money is required to settle an obligation of P15100.00 on April 1, 2021, if the loan is made on October 15, 2020 at a rate of 10% compounded quarterly?

Reference no: EM132729308

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