John Mojico invested her USD 20,000 in a BPI Time Deposit Account earning 2.8% simple interest for 2 years. What is the Accumulated Interest at the end of the 2nd year?
John Mojico invested her USD 20,000 in a BPI Time Deposit Account earning 2.8% simple interest for 2 years. What is the Accumulated Interest at the end of the 2nd year?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 14E
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Question
John Mojico invested her USD 20,000 in a BPI Time Deposit Account earning 2.8%
simple interest for 2 years. What is the Accumulated Interest at the end of the 2nd
year?
TOPIC: Principle of Finance
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