5. A 65-year old retiree invested Php. 400 000.00 in a pension plan that earn 15% interest compounded monthly. If pension payments are given every three months, determine the amount that the retiree...

Extracted text: 5. A 65-year old retiree invested Php. 400 000.00 in a pension plan that earn 15% interest compounded monthly. If pension payments are given every three months, determine the amount that the retiree (or his heirs) will receive quarterly for the next 15 years.