A. A man having a debt of ₱2000.00 agrees to pay it at the end of 7 years. At due, he must pay a sum with an interest of ₱750.00. What is the agreed rate of interest compounded quarterly? Ans: 4.58% B. A laptop from an online shop will cost ₱3000.00 if agreed terms is 10% compounded quarterly for a year. What is the cash price today of the calculator? Ans: ₱2717.85
A. A man having a debt of ₱2000.00 agrees to pay it at the end of 7 years. At due, he must pay a sum with an interest of ₱750.00. What is the agreed rate of interest compounded quarterly? Ans: 4.58% B. A laptop from an online shop will cost ₱3000.00 if agreed terms is 10% compounded quarterly for a year. What is the cash price today of the calculator? Ans: ₱2717.85
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 31P
Related questions
Question
A. A man having a debt of ₱2000.00 agrees to pay
it at the end of 7 years. At due, he must pay a sum
with an interest of ₱750.00. What is the agreed rate
of interest compounded quarterly?
Ans: 4.58%
B. A laptop from an online shop will cost ₱3000.00 if agreed terms is
10% compounded quarterly for a year. What is the
cash price today of the calculator?
Ans: ₱2717.85
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