Question
Sofia deposits PHP 2,000 into Fund A and Aljana deposits PHP 1,000 into Fund B. Both Fund A and Fund B are governed by the
Sofia deposits PHP 2,000 into Fund A and Aljana deposits PHP 1,000 into Fund B. Both Fund A and Fund B are governed by the same annual effective interest rate. The amount of interest earned in Sofia's fund on the 8th year is the same as the amount of interest earned in Aljana's fund on the 12th year. Calculate this amount of interest.
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Understanding Financial Accounting
Authors: Christopher D. Burnley
2nd Canadian Edition
1119406927, 978-1119406921
