Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer the following. 1. How long will it take money to triple itself if invested at 5% compound interest rate? 2. By the condition

Please answer the following.

image text in transcribed
1. How long will it take money to triple itself if invested at 5% compound interest rate? 2. By the condition of a will, the sum of P20,000 is left to a girl to be held in a trust fund by her guardian until it amounts to P50,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly? 3. If P500,000 is deposited at a rate of 11.25% compounded monthly, determine the compounded interest after seven years and nine months

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

The Economics Of The Sulphur Industry

Authors: Jared E Hazleton

1st Edition

1317353927, 9781317353928

More Books

Students also viewed these Economics questions

Question

Why are stereotypes so resistant to change?

Answered: 1 week ago

Question

Write a note on transfer policy.

Answered: 1 week ago

Question

Discuss about training and development in India?

Answered: 1 week ago

Question

Explain the various techniques of training and development.

Answered: 1 week ago

Question

Explain the various techniques of Management Development.

Answered: 1 week ago