A father deposited a total amount of P88,500 on two different investments. The first investment earns a rate of simple interest 2.6 times the second investment. In 5 years, the first investment grows P92,745. In 10 years, the second investment grows P43,134. Determine the following: 1. Interest rate of the second investment, in %. 2. Amount deposited on the first investment.
A father deposited a total amount of P88,500 on two different investments. The first investment earns a rate of simple interest 2.6 times the second investment. In 5 years, the first investment grows P92,745. In 10 years, the second investment grows P43,134. Determine the following: 1. Interest rate of the second investment, in %. 2. Amount deposited on the first investment.
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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