Question: Solve the following problems on compound interest. Write the given, what is asked in the problem, and show the solution. 1. Kian lends Php 75


Solve the following problems on compound interest. Write the given, what is asked in the problem, and show the solution. 1. Kian lends Php 75 000 for 3 years at 5% compounded monthly. Find the future value and interest of this amount. 2. Yeng has a choice to make for short term investments for her excess cash Php 50 000. She can invest at (a) 6% compounded quarterly for 6 months or (b) 5% compounded semi- annually for 1 year. Which is larger? 3. Marie is planning to invest Php 200 000. Bank A is offering 7.5% compounded semi- annually while Bank B is offering 7% compounded monthly. If she plans to invest this amount for 5 years, in which bank should she invest
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
