In compound interest, the interest for the current period is computed based on the amount (principal plus interest up to the end of the previous period) at the beginning of the current perio Select one: O True O False

10. A man borrowed P180,000 from a lending firm for 6 years at 9% compounded quarterly. At the end of 6 years, it renews the loan for the amount due plus P80,000 more for 6 years at 4 % compounded monthly. Determine the value of money at the end of the extended period? Show the Cash Flow Diagram. State your reference period in the solution as reflected in the diagram. Note: Use only two decimal places for the final answer and four decimal places for the solutions. Answer the problem with the given Format: Given, Required, Solution, Answer. Thank you!

Determine the effective interest rate for the following cases. a.10% compounded weekly b.10% compounded daily c. 10% compounded Quarterly d.10% compounded continuously

Please use simple interest formula