Find the amount at the end of 2 years and 6 months if P2,000 is invested at 71% compounded quarterly, using simple interest for anytime less than a year interest period. Express your answer in 2 decimal places.

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
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Question 7
Find the amount at the end of 2 years and 6 months if P2,000 is invested at 71% compounded quarterly, using simple interest for anytime less than a year interest period.
Express your answer in 2 decimal places.
Transcribed Image Text:Question 7 Find the amount at the end of 2 years and 6 months if P2,000 is invested at 71% compounded quarterly, using simple interest for anytime less than a year interest period. Express your answer in 2 decimal places.
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