P200,000 was placed in a time deposit at x% compounded quarterly and was free of taxes. After exactly 5 years, the total interest earned was P120,000. What is the value of x? a.9.5% c. 6.35% b. 8.21% d. 7.12%

P200,000 was placed in a time deposit at x% compounded quarterly and was free of taxes. After exactly 5 years, the total interest earned was P120,000. What is the value of x? a.9.5% c. 6.35% b. 8.21% d. 7.12%

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 1EA: Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest...

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Question

P200,000 was placed in a time deposit at x% compounded quarterly and was free of taxes. After exactly 5 years, the total interest earned was P120,000. What is the value of x?

a.9.5% c. 6.35%

b. 8.21% d. 7.12%

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