The future value after 5 years of the Present ₱9,000 is ₱12,350. Find the interest rate that is compounded quarterly. (Do not round off between computations. Round off the final answer to two decimal places. Example of writing your answer 2.58%)

The future value after 5 years of the Present ₱9,000 is ₱12,350. Find the interest rate that is compounded quarterly. (Do not round off between computations. Round off the final answer to two decimal places. Example of writing your answer 2.58%)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 31P

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The future value after 5 years of the Present ₱9,000 is ₱12,350. Find the interest rate that is compounded quarterly. (Do not round off between computations. Round off the final answer to two decimal places. Example of writing your answer 2.58%)

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