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2. Sonia invested P 2,100 and left it for 9 years where the time in which the principal was withdrawn. The interest rate compounded annually is 8.5%. a. Determine the amount of money after 20th year? b. Determine the effective interestrate.

2. Sonia invested P 2,100 and left it for 9 years where the time in which the principal was withdrawn. The interest rate compounded annually is 8.5%. a. Determine the amount of money after 20th year? b. Determine the effective interestrate.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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2. Sonia invested P 2,100 and left it for 9 years where the time in which the principal was withdrawn. The interest rate compounded annually is 8.5%. a. Determine the amount of money after 20th year? b. Determine the effective interest rate. c. Determine the Single Payment Compound Amount Factor. Round your answer into 4 decimal places (nearest ten thousands).
Transcribed Image Text:2. Sonia invested P 2,100 and left it for 9 years where the time in which the principal was withdrawn. The interest rate compounded annually is 8.5%. a. Determine the amount of money after 20th year? b. Determine the effective interest rate. c. Determine the Single Payment Compound Amount Factor. Round your answer into 4 decimal places (nearest ten thousands).
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