You have a savings account with Corp X that pays out monthly interest at 0.25% p.a. You had a balance of P2,300,000 at the end of November 2014. You withdrew P500,000 on December 12, 2014 and deposited P250,000 on December 28, 2015. How much net interest will you get at the end of Dec? If the savings is with a bank, how much net interest will you get at the end of December?

Monthly Interest = 0.25% per annum Required Balance = P2,300,000 at the end of November 2014…

Answered: You have a savings account with Corp X…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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You have a savings account with Corp X that pays out monthly interest at 0.25% p.a. You had a balance of P2,300,000 at the end of November 2014. You withdrew P500,000 on December 12, 2014 and deposited P250,000 on December 28, 2015. How much net interest will you get at the end of Dec? If the savings is with a bank, how much net interest will you get at the end of December?

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