The time of a loan could be expressed in months, years, or days. Select the correct response: True False

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 68SGR
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Answer the following
The time of a loan could be expressed in months, years, or
days.
Select the correct response:
True
False
Transcribed Image Text:The time of a loan could be expressed in months, years, or days. Select the correct response: True False
George invested P25,000 at 9% compounded quarterly. After 2 ½ years, the rate changed to 9.6% compounded
semiannually. What is the principal at the beginning of the period when the rate changed to 9.6%?
Select the correct response:
Php29,013.52
Php31,230.09
Php25,000
Php38,824.24
Transcribed Image Text:George invested P25,000 at 9% compounded quarterly. After 2 ½ years, the rate changed to 9.6% compounded semiannually. What is the principal at the beginning of the period when the rate changed to 9.6%? Select the correct response: Php29,013.52 Php31,230.09 Php25,000 Php38,824.24
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