Due to the increase in population in XYZ city in the year 2016, the economic status became more stable. More investors were attracted to invest in the said city. A foreign company offered an Interest rate of 2.5% compounded quarterly. Many businessmen grabbed the opportunity like the following: a. Mr. Sy invested P750,000. How much will his money be worth after 10 years? b. Mrs. Mondragon would like to invest P1.5 million, but she would like to know how long it will take her money to grow to P2.6 million. If the said foreign company offered 3% compounded semiannually, will you invest in its first offer or 2nd offer, assuming that you will invest all your savings which amounted to P 520,000? Support your answer.
Due to the increase in population in XYZ city in the year 2016, the economic status became more stable. More investors were attracted to invest in the said city. A foreign company offered an Interest rate of 2.5% compounded quarterly. Many businessmen grabbed the opportunity like the following: a. Mr. Sy invested P750,000. How much will his money be worth after 10 years? b. Mrs. Mondragon would like to invest P1.5 million, but she would like to know how long it will take her money to grow to P2.6 million. If the said foreign company offered 3% compounded semiannually, will you invest in its first offer or 2nd offer, assuming that you will invest all your savings which amounted to P 520,000? Support your answer.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Due to the increase in population in XYZ city in the year 2016, the economic status became more stable. More investors were attracted to invest in the said city. A foreign company offered an Interest rate of 2.5% compounded quarterly. Many businessmen grabbed the opportunity like the following:
a. Mr. Sy invested P750,000. How much will his money be worth after 10 years?
b. Mrs. Mondragon would like to invest P1.5 million, but she would like to know how long it will take her money to grow to P2.6 million.
If the said foreign company offered 3% compounded semiannually, will you invest in its first offer or 2nd offer, assuming that you will invest all your savings which amounted to P 520,000? Support your answer.
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