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2. Determine the exact and ordinary simple interests on P1,200 for the period from January 16 to November 26, 1992, if the rate of interest

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2. Determine the exact and ordinary simple interests on P1,200 for the period from January 16 to November 26, 1992, if the rate of interest is 24%. (10 Pts.) 3. If the sum of $12,000 is deposited in an account earning interest at the rate of 9% compounded quarterly, what will it become at the end of 8 years? (10 Pts.)

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