Jun placed an investment of 1,086,000 which he earn from abroad to overseas kababayan savings bank account here in Philippines at 5.74 % interest compounded monthly for 2 ½ years. Compute for the compound interest. Mr. Mendoza wants to know the effective interest rate of his 435,000 bank loan with nominal interest rate of 4.7 % compounded semi-annually. Find the effective interest rate. Mr. Mendoza wants to know the effective interest rate of his 435,000 bank loan with nominal interest rate of 4.7 % compounded semi-annually. Find the effective interest rate.

Jun placed an investment of 1,086,000 which he earn from abroad to overseas kababayan savings bank account here in Philippines at 5.74 % interest compounded monthly for 2 ½ years. Compute for the compound interest. Mr. Mendoza wants to know the effective interest rate of his 435,000 bank loan with nominal interest rate of 4.7 % compounded semi-annually. Find the effective interest rate. Mr. Mendoza wants to know the effective interest rate of his 435,000 bank loan with nominal interest rate of 4.7 % compounded semi-annually. Find the effective interest rate.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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