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 toaccumulate to Php 40,000 if she invested her savings to a financial institution that provides asimple 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 tablebelow.Time (in years)PrincipalRateInterestFuture Value0.P12, 5000.0325POPO7. W1hatwillbe thematurity 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 sheeto bauaDI75000 Cor his oation ot theondofSvo2Tch0 耳到SHOT ON S15itel DUAL CAMERA2.3.

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

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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Question

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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