Question
1.) Rex borrowed a certain amount on October 1990 from Jason. Two years later, Rex borrowed again from Jason an amount of P500. Rex paid
1.) Rex borrowed a certain amount on October 1990 from Jason. Two years later, Rex borrowed again from Jason an amount of P500. Rex paid P200 on October 1993and discharged his balance by paying P700 on October 1995 What was the amount borrowed by Rex on October 1990 if the interest rate is 8% compounded annually?
2.) P2,000 was deposited 20 years ago at an interest rate of 8% compounded semi-annually. How much is the sum now?
3.) Jeffrey deposited P150 in the bank now and plans to withdraw P100 next year. What will be the amount of money left in the bank after 10 years from his withdrawal? Effective annual interest is 10%
4.) 500 years ago, Rajah Salayog deposited Php 0.01 with an interest rate of 5% per annum. Now the bank discovered that you are the only left in the clan and entitled to receive the money. How much is it?
5.) Suppose that P200,000.00 is invested at a certain rate of interest compounded annually for two years. If the accumulated interest at the end of 2 years is P42,000.00, find the rate of interest.
Pleass put the formula used. Thank you
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