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Using the situations provided in Exercise 1, compute the annual interest, total interest and amount to be received or paid at the end of the term of each scenario using a compound interest ass 1. You invested P28,000 in govemment securities that yields 5% annually for three years. 2. Your mother obtained a car loan for P900,000 with an annual rate of 12% for 5 years. 3. You deposited P10,000 from the savings of your daily allowance in a time deposit account with your savings bank at a rate of 1.5% per annum. This will mature in 6 months assumption.

Using the situations provided in Exercise 1, compute the annual interest, total interest and amount to be received or paid at the end of the term of each scenario using a compound interest ass 1. You invested P28,000 in govemment securities that yields 5% annually for three years. 2. Your mother obtained a car loan for P900,000 with an annual rate of 12% for 5 years. 3. You deposited P10,000 from the savings of your daily allowance in a time deposit account with your savings bank at a rate of 1.5% per annum. This will mature in 6 months assumption.

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.21MCE
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Exercise 2. Using the situations provided in Exercise 1, compute the annual interest, total interest and amount to be received or paid at the end of the term of each scenario using a compound interest ass 1. You invested P28,000 in govemment securities that yields 5% annually for three years. 2. Your mother obtained a car loan for P900,000 with an annual rate of 12% for 5 years. 3. You deposited P10,000 from the savings of your daily allowance in a time deposit account with your savings bank at a rate of 1.5% per annum. This will mature in 6 months assumption.
Transcribed Image Text:Exercise 2. Using the situations provided in Exercise 1, compute the annual interest, total interest and amount to be received or paid at the end of the term of each scenario using a compound interest ass 1. You invested P28,000 in govemment securities that yields 5% annually for three years. 2. Your mother obtained a car loan for P900,000 with an annual rate of 12% for 5 years. 3. You deposited P10,000 from the savings of your daily allowance in a time deposit account with your savings bank at a rate of 1.5% per annum. This will mature in 6 months assumption.
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