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# (compound interest) you make a deposit of 500 on the first day of each month in a savings account that pays 6% compounded monthly.

1. (compound interest) you make a deposit of 500 on the first day of each month in a savings account that pays 6% compounded monthly. will there be enough money in the account in 2 years to buy a P15,000 digital TV?

2. (savings) a deposit of P1000.00 is made at the beggining of each year for 30years and earns 0.6% interest compounded annually. what is the value of this annuity at the end of the 13th year? (use GP concept)