A man invested money at 12% compounded quarterly and the other at 16% compounded semi-annually. After 10yrs the total he invested is P500 000. If the amount he invested in 16% is twice the12%, determine the amount(P) he invest in 16%.

Let amount invested in 16% be 2X amount invested in 12% = X value after 10 years of 2X = 2X*(1 +…

Answered: Aman invested money at 12% compounded…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 18E

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Aman invested money at 12% compounded quarterly and the other at 16% compounded semi- annually. After 10yrs the total he invested is P500 000. If the amount he invested in 16% is twice the 12%, determine the amount(P) he invest in 16%.