Compute for the interest for an amount of P400,000 for a period of 8 years if interest rate is at 16% compounded every 2 months? P 1053213.10 O P 1024561.23 O P 1014731.93 P 1031232.54

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
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Compute for the interest for an amount of P400,000 for a period of 8 years if
interest rate is at 16% compounded every 2 months?
P 1053213.10
P 1024561.23
P 1014731.93
O P 1031232.54
Transcribed Image Text:Compute for the interest for an amount of P400,000 for a period of 8 years if interest rate is at 16% compounded every 2 months? P 1053213.10 P 1024561.23 P 1014731.93 O P 1031232.54
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