On her recent birthday, April 22, 2001, Nicole was given by her mother a certain sum of money as birthday present. She decided to invest the said amount on 20% exact simple interest. If the account will mature on Christmas Day at an amount of P10,000.00, how much did Nicole receive from her mother on her birthday?

On her recent birthday, April 22, 2001, Nicole was given by her mother a certain sum of money as birthday present. She decided to invest the said amount on 20% exact simple interest. If the account will mature on Christmas Day at an amount of P10,000.00, how much did Nicole receive from her mother on her birthday?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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