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(a) If P35,000 1s invested at 8% interest compounded quarterly how many years will it take for this amount to accumulate toP40,000? (b) Determine the

(a) If P35,000 1s invested at 8% interest compounded quarterly how many years will it take for this amount to accumulate toP40,000? (b) Determine the effective rate for each of the following: 1) 12% compounded semi-annually 2) 12% compounded quarterly 3) 12% compounded monthly.

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