Image transcription text

l. Solve the following problems. Show your solution. 1. Evelvn was trvlng to decide at which bank she will to invest her savings from her weekly allowance for the past 22 weeks. The amount of her savings is Php1T, 000. The JPS Bank offers her a 3.5% simple interest rate for 3 years, while RSC Bank will give her a 2.76% interest rate for 4 years. Based on the total amount at the end of their offers, which bank should Maricar choose and why? Support your answer. _?_ ___?' de?ahk ' ascaa'n'km Support your answer: 2. If you want to have PhP 150,000 after 8 years, in which account below should you put your money today? Why? Support your answer: Simple Interest Compound lnterset Rate = 5% 

Image transcription text

after 10 years? 3. If you have PhP 80,000 today and put it into one of the three accounts below, how much will each account be worth Account 1 Account 2 Account 3 Compounded Semi-annually Compounded Quarterly Compounded Monthly Rate = 10% Rate = 10% Rate = 10% Which account will give you the most money? By how much does the best account above outperform the worst account. Show your solution. Using the data in the given problem, if you were to compare the worst account to an account that pays 10% compounded annually, in which account would yield a better amount? Why In which account will you put your money? Why? 

Answer rating: 100% (QA)

ANSWER Answer is 7316467 General Ledger is the record of Total fin... View the full answer