Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. Find the rate of simple interest if P1.550 amounts to P1,677.50 in 4 months. rate: % 2. Mr Chan invested P15,000 which accumulated P17,812.50
1. Find the rate of simple interest if P1.550 amounts to P1,677.50 in 4 months. rate: % 2. Mr Chan invested P15,000 which accumulated P17,812.50 in an investment which earned 15%. Find the duration of time in months of the investment. 3. Maris bought a computer from Jane and gave her a Php 50,000 bank discount note due on August 15, 2019, for the balance. Jane needs money on June 16, 2019 and sells her note to a bank, which discounts it a 13.8%. Find the proceeds of Jane. 4. How long it will take for money double itself at 5.7% compounded semi. annually? Write your answer in months. 5. Last January 4, 2020, Randy invested P20,500 in a bank, which gives 12% interest compounded quarterly. Once the money accumulates to P30,000 Randy decides to withdraw his money. When should he make this withdrawal
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started