For numbers 1 to 3, calculate the simple interest earned. Round to the nearest centavo. 1. P = Php 2,500.00, r = 6%, t = 1 year 2. P = Php 9,000.00, r = 5.6%, t = 6 months 3. P = Php 22,000.00, r = 7.2 %, t = 120 days
For numbers 1 to 3, calculate the simple interest earned. Round to the nearest centavo. 1. P = Php 2,500.00, r = 6%, t = 1 year 2. P = Php 9,000.00, r = 5.6%, t = 6 months 3. P = Php 22,000.00, r = 7.2 %, t = 120 days
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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For numbers 1 to 3, calculate the simple interest earned. Round to the nearest centavo.
1. P = Php 2,500.00, r = 6%, t = 1 year
2. P = Php 9,000.00, r = 5.6%, t = 6 months
3. P = Php 22,000.00, r = 7.2 %, t = 120 days
4. The simple interest charged on a 60 – day loan of Php 8,400.00 is Php 119. Find the simple
interest rate.
5. If Php 12,000.00 is deposited for 5 years in an account that earns 9%, calculate the simple
interest earned
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