Nora is thinking of investing an amount of P30,000 for 2 12 years. Find the future value based on the following investments: a. Simple interest of 8.5% b. 8.5% compounded annually c. Which investment is better? Justify your answer.

Nora is thinking of investing an amount of P30,000 for 2 12 years. Find the future value based on the following investments: a. Simple interest of 8.5% b. 8.5% compounded annually c. Which investment is better? Justify your answer.

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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