1. Harold expects to receive Php 200,000 five years from now. How much is the money worth now if the interest rate is 10% compounded monthly?   2.Calculate the annual interest rate compounded semi-annually that will allow a principal sum of Php 40,000 accumulate to Php 80,000 after five years.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 6RE: Hsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed...
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What us the correct to the questions below (numbers 1 and2)?

1. Harold expects to receive Php 200,000 five years from now. How much is the money worth now if the interest rate is 10% compounded monthly?

 

2.Calculate the annual interest rate compounded semi-annually that will allow a principal sum of Php 40,000 accumulate to Php 80,000 after five years.

 

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