How much interest was earned by an investment that earns at a rate of 9% compounded semiannually for 7 years if the initial investment is at Php 18,000.00? A. Php 15,533.01 B. Php 15,535.01 C. Php 15,353.01 D. Php 15,335.01

How much interest was earned by an investment that earns at a rate of 9% compounded semiannually for 7 years if the initial investment is at Php 18,000.00? A. Php 15,533.01 B. Php 15,535.01 C. Php 15,353.01 D. Php 15,335.01

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 22PROB

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Question

How much interest was earned by an investment that earns at a rate of 9% compounded semiannually for 7 years if the initial investment is at Php 18,000.00?

A. Php 15,533.01

B. Php 15,535.01

C. Php 15,353.01

D. Php 15,335.01

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