Jodan received an amount of GHc 1000 from his grandpa as a birthday gift. He decides to invest the money at 15%f for five years. Based on simple interest, ascertain the interest receivables at the end of the investement period.

Jodan received an amount of GHc 1000 from his grandpa as a birthday gift. He decides to invest the money at 15%f for five years. Based on simple interest, ascertain the interest receivables at the end of the investement period.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 15E

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Jodan received an amount of GHc 1000 from his grandpa as a birthday gift. He decides to invest the money at 15%f for five years.

Based on simple interest, ascertain the interest receivables at the end of the investement period.

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