1. An amount of Php150,000 is invested for 9 months at 4%. What is the interest and the maturity value?

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
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ASS 1 

A. Solve for the simple and compound interest. Show your solution.
1. An amount of Php150,000 is invested for 9 months at 4%. What is the interest and the
maturity value?
2. An amount of Php 1,000,000 is invested in a financial institution.
a. How long will it take for the amount to reach Php1,001,000 at 2% simple interest?
b. At what interest rate will it earn Php1,000 in 10 months?
Transcribed Image Text:A. Solve for the simple and compound interest. Show your solution. 1. An amount of Php150,000 is invested for 9 months at 4%. What is the interest and the maturity value? 2. An amount of Php 1,000,000 is invested in a financial institution. a. How long will it take for the amount to reach Php1,001,000 at 2% simple interest? b. At what interest rate will it earn Php1,000 in 10 months?
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