Part 2: Compound interest 1. What is the present value of Php65,000 at 11% compounded annually for 4 years? 2. A Php1,000,000-trust fund was set up and to be used by an 8-year old nephew when he goes to college. In 8 years, how much will the fund be if the investmentrate is 7.5% compounded quarterly? 3. Ryza borrows Php150,000. At what rate compounded bi-monthly will her interest be if she agrees to pay Php10,000 more at the end of 2 years?
Part 2: Compound interest 1. What is the present value of Php65,000 at 11% compounded annually for 4 years? 2. A Php1,000,000-trust fund was set up and to be used by an 8-year old nephew when he goes to college. In 8 years, how much will the fund be if the investmentrate is 7.5% compounded quarterly? 3. Ryza borrows Php150,000. At what rate compounded bi-monthly will her interest be if she agrees to pay Php10,000 more at the end of 2 years?
Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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Transcribed Image Text:Part 2: Compound interest
1. What is the present value of Php65,000 at 11% compounded annually for 4 years?
2. A Php1,000,000-trust fund was set up and to be used by an 8-year old nephew when he goes to college.
In 8 years, how much will the fund be if the investment rate is 7.5% compounded quarterly?
3. Ryza borrows Php150,000. At what rate compounded bi-monthly wil her interest be if she agrees to pay
Php10,000 more at the end of 2 years?
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