Additional Activities
Solve the following:

1. Josiah, a fisherman, won a local lottery game. After reserving a portion

of his winning for his family’s immediate expenses, he is left with ₱

150,000.00. He decided to put this in an account providing 3% interest

compounded monthly. He also plans to let the money grow for 5 years,

and then make equal monthly withdrawals for another 5 years until the

money is the account is deleted. How much should be his monthly

withdrawals?



2.A house and lot are to be purchased by paying ₱ 15,500.00 monthly

payable in 25 years. The first payment is due in 1 year. How much is

the cash price of the house and lot if the interest rate is 12% converted

monthly?

3. Kim’s savings may allow her to withdraw ₱ 50,000.00 semi-annually for

5 years starting at the end of 5 years. How much her savings, if the

interest rate is 8%, converted semi-annually?

4. Rodel decided to sell their farm and to deposit the fund in a bank. After

computing the interest, they learned that they may withdraw

₱ 480,000.00 yearly for 8 years starting at the end of 6 years when it is

time for him to retire. How much is the fund deposited if the interest

rate is 5% converted annually?

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