Complete the table below. Show your solution for each item. Write your answer on a piece of paper

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 13E
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Complete the table below. Show your solution for
each item. Write your answer on a piece of paper
Simple interest Final amount
13, 008 pesos
Compound interest
Principal
12, 000 pesos
65,500 pesos
47, 457.50 pesos 23, 150 pesos
41.30 pesos
24, 020 pesos
36.50 pesos
25,000 pesos
Interest rate Number of periods interest
2.8%
1,008 pesos
3.5%
0.1%
6.25%
2.5 years
5 years
2 years
3 years
6 years
24, 307.50 peso
48.06 pesos
4.8 pesos
Transcribed Image Text:Complete the table below. Show your solution for each item. Write your answer on a piece of paper Simple interest Final amount 13, 008 pesos Compound interest Principal 12, 000 pesos 65,500 pesos 47, 457.50 pesos 23, 150 pesos 41.30 pesos 24, 020 pesos 36.50 pesos 25,000 pesos Interest rate Number of periods interest 2.8% 1,008 pesos 3.5% 0.1% 6.25% 2.5 years 5 years 2 years 3 years 6 years 24, 307.50 peso 48.06 pesos 4.8 pesos
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