Practice Task 1 Determine the payment interval and compounding period of the following problems. Then distinguish whether the problem involves simple annuity or general annuity. 1. Daniel is saving for his college graduation. He decided to save P 500.00 at the end of each month. The bank pays 0.25% compounded monthly. He will do this for 5 years. 2. A P 50,000.00 loan is payable in 3 years. To repay the loan, the debtor must pay an amount every 6 months with an interest rate of 6% compounded semiannually. 3. Vanessa intends to borrow money as capital for her business. To pay if off, she will pay P 4,000.00 at the end of every month for 6 years. The money is compounded by 5% quarterly. 4. A loan of P 100,000.00 is to be repaid with quarterly installments at end quarter for five years. The rate of interest charged on the loan is 10% compounded semiannually. 5. John started to deposit P5,000.00 quarterly in a fund that pays 2% compounded quarterly. What kind of annuity does the problem illustrate​