Answered: An investment that cost ₱300,000 was…

An investment that cost ₱300,000 was placed in a bank and the bank gave you a 4% compound interest per annum. If the investment is to be placed in 5 years. How much is the interest earned?

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter19: Capital Investment

Section: Chapter Questions

Problem 19E

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An investment that cost ₱300,000 was placed in a bank and the bank gave you a 4% compound interest per annum. If the investment is to be placed in 5 years. How much is the interest earned?

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