A. Simple interest 1 Danny deposited Php 72,500 into a savings account that pays 2.3% simple annual interest. How much interest will Danny earn after 18 months? 1. Mary borrowed Php 250,000 from the company where she is connected with to buyher own car. She will pay it back in 3 years with 5% simple annual interest. How much interest will Mary pay? 2. John deposited Php 30, 000 in a savings account that pays 6% simple annual interest.Find his account balance after 9 months. 3. How long will it take to double a savings of Php 40,000, if it is deposited in anaccount that offers a simple interest of 10% per year?
A. Simple interest 1 Danny deposited Php 72,500 into a savings account that pays 2.3% simple annual interest. How much interest will Danny earn after 18 months? 1. Mary borrowed Php 250,000 from the company where she is connected with to buyher own car. She will pay it back in 3 years with 5% simple annual interest. How much interest will Mary pay? 2. John deposited Php 30, 000 in a savings account that pays 6% simple annual interest.Find his account balance after 9 months. 3. How long will it take to double a savings of Php 40,000, if it is deposited in anaccount that offers a simple interest of 10% per year?
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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Transcribed Image Text:A. Simple interest
1 Danny deposited Php 72,500 into a savings account that pays
2.3% simple annual interest. How much interest will Danny
earn after 18 months?
1. Mary borrowed Php 250,000 from the company where she is
connected with to buyher own car. She will pay it back in 3 years
with 5% simple annual interest. How much interest will Mary pay?
2. John deposited Php 30, 000 in a savings account that pays 6%
simple annual interest.Find his account balance after 9 months.
3. How long will it take to double a savings of Php 40,000, if it is
deposited in anaccount that offers a simple interest of 10%
per year?
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