On his recent birthday on April 18, 2012, Cai was given by his mother a certain amount of money as birthday present. He decided to invest the said amount on a 12% exact simple interest. If the investment will mature on Christmas day at an amount of P15,000, how much did Cai receive from his mother on his birthday?

On his recent birthday on April 18, 2012, Cai was given by his mother a certain amount of money as birthday present. He decided to invest the said amount on a 12% exact simple interest. If the investment will mature on Christmas day at an amount of P15,000, how much did Cai receive from his mother on his birthday?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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