Given Problem: A woman has deposited Php 60,000 in a savings account. Bank pays an interest at a rate of 9% per year. Compute the future value and the amount of interest earned over 12-year period: (a) if interest is simple? (b) if interest is compounded annually? (c) Simple Annuity

Given Problem: A woman has deposited Php 60,000 in a savings account. Bank pays an interest at a rate of 9% per year. Compute the future value and the amount of interest earned over 12-year period: (a) if interest is simple? (b) if interest is compounded annually? (c) Simple Annuity

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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Question

Given Problem: A woman has deposited Php 60,000 in a savings account. Bank pays an interest at a rate of 9% per year. Compute the future value and the amount of interest earned over 12-year period:

(a) if interest is simple?

(b) if interest is compounded annually?

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