Answered: 1. How much interest is earned when an…

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter5: Systems Of Equations And Inequalities

Section: Chapter Questions

Problem 14P: Annual interest yield refer to problem 13 .suppose the investor decides to increase the maximum...

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1. How much interest is earned when an amount of 100,000Php is invested with annual interest rate of 8% for 5 years?

2. How much amount will the investor in problem no.1 received in 5 years?

3. For 5 years, Mark was able to save 350,000Php in his savings account. He invested 40% of it in a catering business with a friend and is earning an annual rate of 3%. His earnings from that investment go directly to his savings. How much will his savings be in two years?

4. If 10,000php is invested in account paying 6% compounded quarterly;

A. How much will be in the account at the end of 5years?

b. How much interest will it earn?

C. Compare the interest it will earn if it is paid at simple interest rate

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For 5 years, Mark was able to save 350,000Php in his savings account. He invested 40% of it in a catering business with a friend and is earning an annual rate of 3%. His earnings from that investment go directly to his savings. How much will his savings be in two years?

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