Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A man deposited 5,000 in a bank at a rate of 10% per annum for 8 months and 25 days. Find the ordinary simple interest.

A man deposited ₱5,000 in a bank at a rate of 10% per annum for 8 months and 25 days. Find the ordinary simple interest.
Group of answer choices

₱368.05

₱358.05

₱348.05

₱338.05

 What is the present worth?
Group of answer choices

Difference between future worth and interest

Amount of money with the interest

The final amount of money

Sum of future worth and interest

Step by Step Solution

3.43 Rating (159 Votes )

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is provided below QUES... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Spreadsheet Modeling And Decision Analysis A Practical Introduction To Management Science

Authors: Cliff T. Ragsdale

5th Edition

324656645, 324656637, 9780324656640, 978-0324656633

More Books

Students also viewed these Accounting questions

Question

How can a layer fold and boudinage (extend) at the same time?

Answered: 1 week ago