1) A man wants to invest a sum of P50,000 in two investments. The first investment earns a rate of interest 4 times that of the second investment. In 3 years the first investment grows to P37, 200. For 10 years, the second investment grows to P24,000. Note: Both investment is on simple interest. Find the sum invested in each rate of interest.
1) A man wants to invest a sum of P50,000 in two investments. The first investment earns a rate of interest 4 times that of the second investment. In 3 years the first investment grows to P37, 200. For 10 years, the second investment grows to P24,000. Note: Both investment is on simple interest. Find the sum invested in each rate of interest.
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...
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(1) A man wants to invest a sum of P50,000 in two investments. The first investment earns a rate of interest 4 times that of the second investment. In 3 years the first investment grows to P37, 200. For 10 years, the second investment grows to P24,000.
Note: Both investment is on simple interest. Find the sum invested in each rate of interest.
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