P% X. Find the value of the missing variables, which are defined as follows: I is...
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P% X. Find the value of the missing variables, which are defined as follows: I is the interest P is the principal amount; r is the rate. I ● ● P840 P15,100 P2,400 Period Annually Semiannually Quarterly Monthly Daily r 5% 22.5% 15% FOR REFERENCE Meaning Compounding occurs once each year Compounding occurs 2 times each year Compounding occurs 4 times each year Compounding occurs 12 times each year Compounding occurs 365 times each year P P5,000 P3,000 P7,000 P50,000 Value of n n = 1 n = 2 n = 4 n = 12 n = 365
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Answer rating: 100% (QA)
To find the missing variables we can use the formulas for simple interest and compound interest 1 Simple Interest The formula for simple interest is I P r n where I is the interest P is the principal ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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