On his recent birthday on April 17, 2012, Cai was given by his mother a certain amount of money as birthday present. He decided to invest the said amount on a 11% exact simple interest. If the investment will mature on Christmas day at an amount of P14,000, how much did Cai receive from his mother on his birthday? 2012 = leap year a. None of these b. P14,000 c. P13,014.32 d. P13,841.47
On his recent birthday on April 17, 2012, Cai was given by his mother a certain amount of money as birthday present. He decided to invest the said amount on a 11% exact simple interest. If the investment will mature on Christmas day at an amount of P14,000, how much did Cai receive from his mother on his birthday? 2012 = leap year a. None of these b. P14,000 c. P13,014.32 d. P13,841.47
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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On his recent birthday on April 17, 2012, Cai was given by his mother a certain amount of money as birthday present. He decided to invest the said amount on a 11% exact simple interest. If the investment will mature on Christmas day at an amount of P14,000, how much did Cai receive from his mother on his birthday? 2012 = leap year
a. None of these
b. P14,000
c. P13,014.32
d. P13,841.47
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