1. How many whole years will it take money to be four times (itself) its value at the rate of 7%compounded semi-annually?3. One hundred thousand pesos was placed in a time deposit which earned 9% compoundedquarterly, tax free. After how many years would it be able to earn a total interest of fiftythousand pesos?4. A man paid a 10% down payment of P200,000 for a house and lot and agree to pay the balanceof monthly installments for 5 years at an interest rate of 15% compounded monthly. What wasthe installment in pesos?

Topic - compound Interest Note: as per bartleby guidelines,we are supposed to solve only first…

Answered: 1. How many whole years will it take…

1. How many whole years will it take money to be four times (itself) its value at the rate of 7% compounded semi-annually?

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

100%

1. How many whole years will it take money to be four times (itself) its value at the rate of 7%
compounded semi-annually?
3. One hundred thousand pesos was placed in a time deposit which earned 9% compounded
quarterly, tax free. After how many years would it be able to earn a total interest of fifty
thousand pesos?
4. A man paid a 10% down payment of P200,000 for a house and lot and agree to pay the balance
of monthly installments for 5 years at an interest rate of 15% compounded monthly. What was
the installment in pesos?

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