2. Mr. Crowley holds a note dated June 12, 2020 that has a maturity value of ₱56,000 after 3 years at 7.35% interest rat

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

2. Mr. Crowley holds a note dated June 12, 2020 that has a maturity value of ₱56,000 after 3 years at 7.35% interest rat

Post by answerhappygod »

2. Mr. Crowley holds a note dated June 12, 2020 that has a
maturity value of ₱56,000 after 3 years at 7.35% interest rate
compounded semi-annually.
a. What is the face value of Mr. Crowley’s note?
b. If he is going to sell the note after 1 ½ year, how much will
he be paid?
3. How long will a ₱30,000 take to double its amount at a rate
of 4.5% interest rate compounded continuously?
4. Determine the compound interest gained by a
₱84,000-investment invested at 2% interest compounded monthly
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Post Reply