Assuming the bank charges simple interest, 50,000 pesos will accumulate to 57,500 at rate i per annum after a certain number of years t. Find the accumulated value of 80,000 pesos at a rate of four fifths as great as the simple interest rate invested for a term thrice as long.

Assuming the bank charges simple interest, 50,000 pesos will accumulate to 57,500 at rate i per annum after a certain number of years t. Find the accumulated value of 80,000 pesos at a rate of four fifths as great as the simple interest rate invested for a term thrice as long.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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