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How much did she deposit

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Q1. Mr. Dodo wins P600,000.00 in the raffle contest. He decides to invest part of it at 3% compounded semi annually enough to enable him to pay P120,0000.00 domestic loan in 1 year, buy a P23,000.00 tricycle in 2 years and pay tuition fee of his daughter for P1,500.00 in 5 years. The balance was given to charities. How much was given to charitable donations?

Q2. Florence Willow has P100,000.00 at the end of 3 years in her savings account. The interest rate is 24% compounded monthly. How much did she deposit in the account 3 years ago?

Q3. If I want to have P50,000.00 after 28 quarters, how much do I have to invest at 12% compounded quarterly.

Reference no: EM132941139

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