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
Posted: Tue Nov 23, 2021 9:05 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 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
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