P9, 000( ) ( ) ( ) ( )

P9, 000( ) ( ) ( ) ( )
X = P9, 137.18
X= P13, 705.77

Answer: P9, 137.18; P13, 705.77

2-9. A woman borrowed P3, 000 to be paid after years with interest at 12% compounded
semiannually and P5, 000 to be paid after 3 years at 12% compounded monthly. What single
payment must she pay after years at an interest rate of 16% compounded quarterly to settle
the two obligations?

Given:

P1 = P3, 000 P2 = P5, 000

n1 =1 n2 =3 n3 = 3
= 12% = 12% = 16%

Solution:

( )
F1 = P( )
( )
F1 = P3, 000( )
F1 = P3, 573.05

( )
F2 = P( )
( )
F2 = P5, 000( )
F2 = P7, 153.84

( ) ( )
F3 =F1( ) F2( )
( ) ( )
F3 = P3, 573.05( ) + P7, 153.84( )
F3 = P4, 889.96 + P7, 737.59
F3 = P12, 627.55

Answer: P12, 627.55

2-10. Mr. J. de la Cruz borrowed money from a bank. He received from the bank P1, 342 and
promises to repay P1, 500 at the end of 9 months. Determine the simple interest rate and the
corresponding discount rate or often referred to as the “Banker’s discount.”