Question

SW1 compound interest (Compatibility Model - Word DESIGN PAGE LAYOUT REFERENCES MAILINGS REVIEW VIEW A man deposited P5.002 on the date his son celebrated his 1st birthday. If money is worth 10% compounded semi-annually, what is the maximum amount the son can withdraw on his 21st birthday? 1. You have a choice to borrow P5.000 from a friend or from a bank. The bank charges 20% per year while your friend charges 16% per month, the loan is payable in one year, where will you borrow to get the better deal and why? A. from the bank: I will save P1,04g c. tom the friend: I will save P139 B. from the bank: I will save P139 D. from the friend: I will save P1,049 2, 3, How long will it take to double the sum of money at 5% annual percentage rate? P7500 is deposited in a savings account at 6.5% rate of interest compounded quarterly for 25 years. Determine the accumulated sum. 4, 5, What is the original price of P1.zda5a discounted price at 22% discount? If P12,50Q is invested at 6% from January 1, year 1, how much money accumulated until January 1, year 10? 7- If P400 is deposited now in a savings account with an interest of 8%, what will be the value amount in the account in 8 years from now? 8. In how many years will the amount of P10.0002 triple if the invested at an interest rate of 10% compounded per year? 9. Today an investor withdraw P50,000 representing the accrued amount of his investment that matured. If he invest at 10% semi-annually for 10 years, how much did he invest in pesos? 10. A loan for P50,000 is to be paid in 3 years at the amount of P65,000. What is the nominal rate that is compounded monthly? continuousy

No. 10 only. Thanks in advance

Answer 1