Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mr Spongebob has had P80,000 stashed under his mattress for 30 years. How much money has he lost by not putting it in a bank

Mr Spongebob has had P80,000 stashed under his mattress for 30 years. How much money has he lost by not putting it in a bank account at 8 percent continuous interest all these years? (nearest value)

a. P801,854 b. P725,013 c. P195,524 d. P865,012 e. P898,012

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Labor Economics

Authors: George J. Borjas

6th edition

73523208, 2900073523209 , 978-0073523200

More Books

Students also viewed these Economics questions

Question

What is the main thrust of new trade theory?

Answered: 1 week ago

Question

Explain how to control impulses.

Answered: 1 week ago