5. You deposited P65 200 in the bank that earns P15 850 at the end of 5 years, at what interest rate was it invested? 6. You deposited your savings in a bank. How long will it take your deposit of P55 750 to earn as much as the deposit if it is invested at 12% simple interest?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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5. You deposited P65 200 in the bank that earns P15 850 at the end of 5 years, at what
interest rate was it invested?
6. You deposited your savings in a bank. How long will it take your deposit of P55 750
to earn as much as the deposit if it is invested at 12% simple interest?
7. Find the number of days from December 18(regular year) to March 8 of the following
year (which is a leap year). Explain how you calculated the number.
8. Find the number of days of a P50 000 loan made on February 21 of a leap year and
repaid on November 4 of the same year and calculate the final amount if the interest
rate is 6.25%.
Transcribed Image Text:5. You deposited P65 200 in the bank that earns P15 850 at the end of 5 years, at what interest rate was it invested? 6. You deposited your savings in a bank. How long will it take your deposit of P55 750 to earn as much as the deposit if it is invested at 12% simple interest? 7. Find the number of days from December 18(regular year) to March 8 of the following year (which is a leap year). Explain how you calculated the number. 8. Find the number of days of a P50 000 loan made on February 21 of a leap year and repaid on November 4 of the same year and calculate the final amount if the interest rate is 6.25%.
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