At what simple interest rate (in 4 decimals) will you have an interest of PhP 805 and a maturity value of PhP 2,321 if the term of the investment is 48 months? ROUND-OFF YOU ANSWER IN 4 DECIMAL PLACES. Example: 0.2331

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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At what simple interest rate (in 4 decimals) will you have an interest of PhP 805 and a
maturity value of PhP 2,321 if the term of the investment is 48 months?
ROUND-OFF YOU ANSWER IN 4 DECIMAL PLACES. Example: 0.2331
Transcribed Image Text:At what simple interest rate (in 4 decimals) will you have an interest of PhP 805 and a maturity value of PhP 2,321 if the term of the investment is 48 months? ROUND-OFF YOU ANSWER IN 4 DECIMAL PLACES. Example: 0.2331
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