2. Suppose your father deposited in your bank account P10,000 at an annual interest rate of 0.5% compounded yearly when you graduate from kindergarten and did not get the amount until you finish Grade 12. How much will you have in your bank account after 12 years?
2. Suppose your father deposited in your bank account P10,000 at an annual interest rate of 0.5% compounded yearly when you graduate from kindergarten and did not get the amount until you finish Grade 12. How much will you have in your bank account after 12 years?
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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Answer the number 2.
Transcribed Image Text:A bank offers 0.25% annual simple interest rate for a particular deposit. How much interest will be
earned if 1 million pesos is deposited in this savings account for 1 year?
1.
2. Suppose your father deposited in your bank account P10,000 at an annual interest rate of 0.5%
compounded yearly when you graduate from kindergarten and did not get the amount until you finish
Grade 12. How much will you have in your bank account after 12 years?
3. Aling Paring started to deposit P2,000 quarterly in a fund that pays 5.5% compounded quarterly. How
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