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At what nominal rate compounded semi-anually will Php5,000 amount to Php 6,000 in 2 years? Round off your answer into 2 decimal places.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 3CE

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At what nominal rate compounded semi-anually will Php5,000 amount to Php 6,000 in 2 years? Round off your answer into 2 decimal places.

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