Answer the following problems presented by Mr. Dela Cruz for you to solve and analyze. He was offered by a bank with three types of accounts. In the first account, interest rate is 12% compounded monthly. In the second account, he was offered 12.2% compounded twice a year. And lastly, in the third account he can earn 12.4% compounded once a year. If he will deposit Php50, 000.00 on that bank, how much will he have at the end of 5 years? Which account should he invest if his goal is to have a high return?

Answer the following problems presented by Mr. Dela Cruz for you to solve and analyze. He was offered by a bank with three types of accounts. In the first account, interest rate is 12% compounded monthly. In the second account, he was offered 12.2% compounded twice a year. And lastly, in the third account he can earn 12.4% compounded once a year. If he will deposit Php50, 000.00 on that bank, how much will he have at the end of 5 years? Which account should he invest if his goal is to have a high return?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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