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Dani Rojas deposited P50,000.00 in the Bank of Yara which offers 12% interest compounded bi-monthly. Two years later, he deposited P70,000.00 in Banco Libertad which offers 14% compounded quarterly. The following year, he deposited P90,000.00 in Banco Nacional Esperanza which offers 16% interest compounded semi-annually. 2. Determine the withdrawn amount from Bank of Yara three years after the last deposit. 3. Determine the withdrawn amount from Banco Libertad three years after the last deposit. 4. Determine the withdrawn amount from Banco Nacional Esperanza three years after the last deposit. 5. Determine the total amount due if he makes a total withdrawal three years after the last deposit?

Dani Rojas deposited P50,000.00 in the Bank of Yara which offers 12% interest compounded bi-monthly. Two years later, he deposited P70,000.00 in Banco Libertad which offers 14% compounded quarterly. The following year, he deposited P90,000.00 in Banco Nacional Esperanza which offers 16% interest compounded semi-annually. 2. Determine the withdrawn amount from Bank of Yara three years after the last deposit. 3. Determine the withdrawn amount from Banco Libertad three years after the last deposit. 4. Determine the withdrawn amount from Banco Nacional Esperanza three years after the last deposit. 5. Determine the total amount due if he makes a total withdrawal three years after the last deposit?

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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SITUATIONAL PROBLEM II: (EXACT SIMPLE INTEREST) Dani Rojas deposited P50,000.00 in the Bank of Yara which offers 12% interest. compounded bi-monthly. Two years later, he deposited P70,000.00 in Banco Libertad which offers 14% compounded quarterly. The following year, he deposited P90,000.00 in Banco Nacional Esperanza which offers 16% interest compounded semi-annually. 2. Determine the withdrawn amount from Bank of Yara three years after the last. deposit. 3. Determine the withdrawn amount from Banco Libertad three years after the last deposit. 4. Determine the withdrawn amount from Banco Nacional Esperanza three years after the last deposit. 5. Determine the total amount due if he makes a total withdrawal three years after the last deposit?
Transcribed Image Text:SITUATIONAL PROBLEM II: (EXACT SIMPLE INTEREST) Dani Rojas deposited P50,000.00 in the Bank of Yara which offers 12% interest. compounded bi-monthly. Two years later, he deposited P70,000.00 in Banco Libertad which offers 14% compounded quarterly. The following year, he deposited P90,000.00 in Banco Nacional Esperanza which offers 16% interest compounded semi-annually. 2. Determine the withdrawn amount from Bank of Yara three years after the last. deposit. 3. Determine the withdrawn amount from Banco Libertad three years after the last deposit. 4. Determine the withdrawn amount from Banco Nacional Esperanza three years after the last deposit. 5. Determine the total amount due if he makes a total withdrawal three years after the last deposit?
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