Direction: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for this scenario below using a simple interest assumption and compound interest assumption.

Direction: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for this scenario below using a simple interest assumption and compound interest assumption.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 21CE

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Question

Your sister placed her graduation gifts amounting to ₱25,000 in a special savings account that provides an interest of 2% for 8 months. Direction: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for this scenario below using a simple interest assumption and compound interest assumption.

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