Student B placed his allowance amounting to P 5000 in a savings account with a nominal interest rate of 5%. His account was monthly compounding, how much interest will have been earned after five years?
Student B placed his allowance amounting to P 5000 in a savings account with a nominal interest rate of 5%. His account was monthly compounding, how much interest will have been earned after five years?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1P
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Student B placed his allowance amounting to P 5000 in a savings account with a nominal interest rate of 5%. His account was monthly compounding, how much interest will have been earned after five years?
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