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At what simple interest rate will a sum of money double itself in 5 years?

At what simple interest rate will a sum of money double itself in 5 years?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4. At what simple interest rate will a sum of money double itself in 5 years? 5. If Wendy wants to invest her Php25,000, how many years will it take for her savings to accumulate to Php 40,000 if she invested her savings to a financial institution that provides a simple interest rate is 4.5% per year? 6. An amount of P12, 500 is invested at 3.25% simple interest for 3 years. Complete the table below. Time (in years) Principal Rate Interest Future Value 0. P12, 500 0.0325 PO PO 7. W 1 hat will be the maturity value of P15, 500 if it is borrowed at 10.5% rate for 10 months? 8. How much should Mrs. Dolores invest today in a time deposit with 5.5% interest if she eto bauaDI75000 Cor his o ation ot theondofSvo2 Tch 0 耳 到 SHOT ON S15 itel DUAL CAMERA 2. 3.
Transcribed Image Text:4. At what simple interest rate will a sum of money double itself in 5 years? 5. If Wendy wants to invest her Php25,000, how many years will it take for her savings to accumulate to Php 40,000 if she invested her savings to a financial institution that provides a simple interest rate is 4.5% per year? 6. An amount of P12, 500 is invested at 3.25% simple interest for 3 years. Complete the table below. Time (in years) Principal Rate Interest Future Value 0. P12, 500 0.0325 PO PO 7. W 1 hat will be the maturity value of P15, 500 if it is borrowed at 10.5% rate for 10 months? 8. How much should Mrs. Dolores invest today in a time deposit with 5.5% interest if she eto bauaDI75000 Cor his o ation ot theondofSvo2 Tch 0 耳 到 SHOT ON S15 itel DUAL CAMERA 2. 3.
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