2. Find the rate of interest and final amount resulting from an investment of P800 at 12% simple interestfor 1 1/2 years.3. How long will it take an investor to earn an interest of P450 on P1,000 at 12%?

Simple interest: It is the return an individual gets on the amount invested by him at the end of…

Answered: Find the rate of interest and final…

Business

Accounting

Find the rate of interest and final amount resulting from an investment of P800 at 12% simple interest for 1 1/2 years.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1QTD

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2. Find the rate of interest and final amount resulting from an investment of P800 at 12% simple interest
for 1 1/2 years.
3. How long will it take an investor to earn an interest of P450 on P1,000 at 12%?

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