uppose P100, 000 is deposited in an account that earns 8% compound interest that is compounded semi-annually. In how many years will the initial investment triple? a.13.01 years b.14.01 years c.14 years d.13 years
uppose P100, 000 is deposited in an account that earns 8% compound interest that is compounded semi-annually. In how many years will the initial investment triple? a.13.01 years b.14.01 years c.14 years d.13 years
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose P100, 000 is deposited in an account that earns 8% compound interest that is compounded semi-annually. In how many years will the initial investment triple?
a.13.01 years
b.14.01 years
c.14 years
d.13 years
As advised by your financial adviser, you started to save P15,000 and deposited it every in the beginning of each month in a bank with 6% interest compounded annually, How much is the total amount after 8 years? (Hint:
a. 4,935,561.09
b. 3,495,561.09
c. 5,493,561.09
d. 9,435,561.09
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