Please Only 8 & 9 I will rate the answer invested at 8% compounded quarterly?8. Determine the effective interest rate of Php1.00 for one year compounded semi-annually at thenominal rate of 6%.9. At a certain interest rate compounded semiannually, P 5,000.00 will amount to P 20,000 after 10years. What is the amount at the end of 15 years?10. Mr. J de la Cruz borrowed money from a bank. He received from the bank P 1,342.00 and promiseto repay P 1,500.00 at the end of 9 months. Determine the simple rate.

Nominal rate = 6% Compounded semiannually, i.e., compounded two times per year. ---- Effective…

Answered: 8. Determine the effective interest…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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8. Determine the effective interest rate of Php1.00 for one year compounded semi-annually at the nominal rate of 6%. 9. At a certain interest rate compounded semiannually, P 5,000.00 will amount to P 20,000 after 10 years. What is the amount at the end of 15 years?