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