A man deposits Php 6,000 in a strange bank that promises 1.5% simple growth interest for 'w' years. After that, 2% interest will begin for 'X' years, which is to be compounded semiannually. If the man wishes the future amount to be up by 147% its principal amount. How many years should the money sit in this strange bank?

Answer rating: 100% (QA)

Deposit amount Php 6000 Bank will pay 15 growth interest for w years And after that 2 for X y... View the full answer