2. A group of employees decided to invest a portion of their bonus. After 3 months from today, they want to withdraw from this fund P5,000 monthly for 12 months to fund their gathering that they...

Extracted text: 2. A group of employees decided to invest a portion of their bonus. After 3 months from today, they want to withdraw from this fund P5,000 monthly for 12 months to fund their gathering that they decide to do every month. How much is the total deposit now if the interest rate is 5% converted monthly? Answer: P57,922.41 3. A mother's savings may allow her to withdraw P50,000 semi-annually for 5 years starting at the end of 5 years. How much is the mother's savings if the interest rate is 8% converted semi-annually? Answer: P284,930.39