For a sum of ₱8000.00 to double itself in 12 years and 9 months, what must be the rate of interest compounded quarterly? A. 4.56% B. 5.47% C. 13.06% D. 54%
For a sum of ₱8000.00 to double itself in 12 years and 9 months, what must be the rate of interest compounded quarterly? A. 4.56% B. 5.47% C. 13.06% D. 54%
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Question
For a sum of ₱8000.00 to double itself in 12 years and 9 months, what must be the rate of interest compounded quarterly?
A. 4.56%
B. 5.47%
C. 13.06%
D. 54%
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