interest compounded annually
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
1. What rate of interest compounded annually must be received if an investment of
Php5,400 made now will result in a receipt of Php7,200 5 years hence?
2. What amount will be accumulated by Php4,100 in 10 years at 6% compounded
annually?
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